SK hynix has reduced the size of its upcoming American depositary receipt (ADR) offering on the Nasdaq, lowering the target raise to 43.14 trillion won ($28.14 billion).
The adjustment represents a cut from the initial plan to raise up to 45.45 trillion won ($29.4 billion) through the stock offering tied to its US listing.
4 billion, which marked a significant expansion of its capital markets presence.
The reduction in the offering size suggests the South Korean memory chip giant is recalibrating its capital raise strategy, potentially in response to market conditions or investor appetite.
By scaling back the target, SK hynix may be aiming to ensure a smoother execution of the listing or to maintain a more favorable valuation multiple.
This development follows SK hynix's earlier announcement of plans to raise up to $29.4 billion, which marked a significant expansion of its capital markets presence.
The company's move to list ADRs on the Nasdaq is part of a broader strategy to increase its visibility among global investors and diversify its funding sources.