SK Hynix is moving forward with plans to list American Depositary Receipts (ADRs) on the Nasdaq, targeting a capital raise of approximately $29.4 billion (45.45 trillion won).
The South Korean memory chipmaker confirmed the transaction structure, marking one of the largest cross-listing efforts by a non-US technology firm in recent years.
The move signals a strategic pivot to deepen ties with US investors and secure funding for its aggressive expansion in high-bandwidth memory (HBM) production, a critical component for artificial intelligence infrastructure.
The listing underscores the intensifying competition for AI-related capital and manufacturing capacity.
By accessing US equity markets, SK Hynix aims to diversify its investor base and potentially enhance its valuation relative to peers listed solely in Asia.
The company has positioned itself as a key supplier to major US tech firms, and the ADR listing is expected to facilitate closer alignment with its primary customer base in the United States.