SK Hynix is targeting a $38 billion listing of American Depositary Receipts (ADRs) on the Nasdaq, significantly increasing the capital raise from earlier filings that suggested a target closer to $29.6 billion.
The world’s second-largest memory chipmaker plans to issue 17.79 million new shares to fund the expansion of its manufacturing footprint in South Korea and the acquisition of advanced chipmaking equipment.
This development follows earlier reports that SK Hynix had filed to list ADRs on the Nasdaq, with initial estimates placing the potential raise at approximately $29.
The move underscores the immense capital intensity required to meet surging demand for high-bandwidth memory (HBM) chips, which are critical components for artificial intelligence data centers.
By accessing US capital markets, SK Hynix aims to secure funding at scale while signaling confidence in the long-term growth trajectory of the AI infrastructure build-out.
The proceeds are earmarked specifically for domestic capacity expansion, reinforcing South Korea’s position as a global hub for advanced semiconductor manufacturing.
This development follows earlier reports that SK Hynix had filed to list ADRs on the Nasdaq, with initial estimates placing the potential raise at approximately $29.4 billion to $29.6 billion.