SK Hynix is aiming to raise up to $29 billion through a dual listing on the Nasdaq, marking a major expansion of its access to US capital markets.
The South Korean memory chipmaker confirmed plans to issue American depositary receipts (ADRs), with the final volume subject to adjustment during the book-building process.
The move underscores the company’s strategic pivot toward Western investors as it seeks to fund its aggressive expansion in high-bandwidth memory (HBM) production, a critical component for artificial intelligence infrastructure.
The proposed offering represents one of the largest technology initial public offerings in recent years.
By listing in the United States, SK Hynix aims to broaden its investor base beyond South Korea and enhance its visibility among global institutional investors.
The company, which has emerged as a dominant supplier of HBM to major AI chipmakers, is leveraging its market leadership to secure long-term funding for capacity upgrades and research and development.