Amid soaring global demand for AI technologies, South Korean chipmaker SK Hynix has launched a major share sale in the United States to raise ₩43 trillion ($28.07 billion). The company plans to list American Depositary Receipts (ADRs) on Nasdaq, making it one of the world’s biggest equity offerings driven by the AI boom.
SK Hynix will issue 17.79 million new shares through the ADR listing, with 10 ADRs representing 1 common share. The pricing range is expected to be announced based on the company’s Seoul-listed share price.
The move comes as Asian semiconductor companies continue to benefit from strong investor interest in AI-related businesses. Taiwan-based chipmaker Unimicron Technology is also seeking to raise about $1.4 billion through an overseas share sale.
Although SK Hynix shares closed 3.4% lower at ₩2,343,000 on Monday, the stock has gained around 260% this year. Industry experts believe the US listing will expand the company’s global investor base and improve its valuation compared to international rivals.
The funds raised will be used to build semiconductor manufacturing facilities in South Korea and purchase advanced chipmaking equipment, including extreme ultraviolet (EUV) scanners from Dutch equipment manufacturer ASML.
The offering follows South Korea’s recently announced ₩576 billion semiconductor and AI investment programme, where SK Hynix and Samsung Electronics will play leading roles. President Lee Jae Myung has directed officials to speed up project execution, warning that delays in approvals, land acquisition and infrastructure could affect the country’s competitiveness.
SK Hynix has emerged as one of the biggest beneficiaries of the AI boom, outperforming several competitors by supplying high-bandwidth memory chips used in AI systems developed by companies such as Nvidia and Google.
The final pricing for the ADR listing is expected on Thursday, with trading scheduled to begin on Friday after a global investor roadshow. Analysts also expect SK Hynix to be added to the Philadelphia Semiconductor Index, potentially attracting significant passive investment inflows.
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