South Korea’s SK hynix said on June 24 that it plans to raise 45.5 trillion won (US$29.43 billion) through a Nasdaq listing.

The listing of American depositary receipts backed by 17.79 million new shares.

The company said it is pursuing the listing to widen its investor base and expand production capacity for AI chips. It added that the amount raised could change after bookbuilding, and that the ADRs are set to list on July 10.

SK hynix said the proceeds will fund a chip factory in Yongin, an advanced packaging fab in Cheongju. The fund will also purchase chipmaking equipment.

🔗 Source: Reuters

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