SK Hynix has initiated a massive capital raise on Wall Street, launching an offering of American Depositary Receipts (ADRs) valued at approximately $28 billion.
The South Korean memory chipmaker will issue 17.79 million new shares, with each common share corresponding to ten ADRs.
The final offering price is scheduled to be determined on Thursday, ahead of the start of trading.
This move represents one of the largest recent listings by a non-US technology firm on the Nasdaq.
By accessing US capital markets directly, SK Hynix aims to broaden its investor base and secure funding for its aggressive expansion in high-bandwidth memory (HBM) and other advanced semiconductor technologies.
The scale of the offering underscores the company's confidence in its market position amid surging demand for AI-driven hardware.