The South Korean chipmaker’s Nasdaq listing aims to raise $28.07 billion amid strong AI-driven demand for semiconductor stocks.
SK Hynix launched a $28.07 billion US share sale, attracting $7 billion in indications of interest from major investors. The offering includes 17.79 million American depositary receipts (ADRs) on Nasdaq, with 10 ADRs representing one common share.
The deal follows a 260% surge in SK Hynix’s stock this year, driven by global demand for AI-related chips. Taiwan’s Unimicron Technology is also raising $1.4 billion through a similar overseas share sale. Memory chip stocks have faced volatility amid concerns over the sustainability of the AI boom.
SK Hynix’s shares fell 3.4% on Monday, while South Korea’s KOSPI declined 0.5%. The reference price for the ADRs was set at 242,500 won based on the July 3 closing price in Seoul.