SK Hynix shares surged 11% on Thursday after the South Korean chipmaker filed plans to raise as much as $29.4 billion through a Nasdaq ADR listing, with trading expected to begin July 10.
South Korean chip giant SK Hynix saw its shares jump 11% on Thursday after the company filed plans to raise as much as $29.4 billion through a U.S. stock market listing, one of the largest such offerings in recent memory.
The company plans to issue 17.79 million new shares in the form of American depositary receipts on the Nasdaq, according to a regulatory filing. The offer could raise 45.45 trillion won, equivalent to $29.65 billion at current exchange rates.
Trading is expected to begin July 10, though the company said that timetable remains subject to change.
SK Hynix said the ADR listing would broaden its investor base and allow "its true corporate value to be properly evaluated." The company framed the move as a step toward greater global recognition, stating that it expects "to elevate our status as a global company by broadening our touchpoints in the United States, the epicenter of AI technological innovation."
The listing comes as SK Hynix accelerates investment to meet surging demand for artificial intelligence chips, reflecting the broader race among semiconductor manufacturers to capture an expanding market.
The company is developing the Yongin semiconductor cluster in South Korea, a facility expected to begin operations in 2027. It is also constructing its first U.S. production facility — a $4 billion advanced chip-packaging plant in Indiana.
The Nasdaq filing underscores SK Hynix's push to position itself alongside American chip rivals in the eyes of institutional investors, particularly those focused on AI infrastructure buildout. A U.S. listing grants access to a deeper pool of capital and raises the company's visibility among fund managers who may face restrictions on holding foreign-listed equities directly.
SK Hynix is best known as a leading supplier of high-bandwidth memory, the type of specialized chip critical to powering large AI models. Demand for that product has driven significant revenue growth across the semiconductor sector, with SK Hynix competing alongside Samsung and Micron for dominance in the segment.
The 11% single-session share gain signals that investors view the listing as a positive step for the company's long-term profile, even as the ultimate size and pricing of the ADR offering remain to be finalized. How the shares perform once trading opens on Nasdaq — should the July 10 timeline hold — will be closely watched as a gauge of international appetite for AI-adjacent semiconductor equities.
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