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SK Hynix Raises $26.5 Billion in Largest US Share Sale by a Foreign Company

4 sourcesFirst reported 12 days agoUpdated 11 days ago

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SK Hynix raised $26.5 billion through its American depositary share offering, marking the largest-ever US listing by a foreign company.
The offering comes as the company capitalizes on increased demand driven by the global push for AI infrastructure.
Shares are expected to debut on the Nasdaq following the completion of the offering.
This significant capital raise reflects the company's strong position in the advanced memory chip market.
Observers indicate that shares could open 21% higher than the offering price.

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SK Hynix, the South Korean memory chipmaker, successfully raised $26.5 billion in its recent American depositary receipts (ADR) offering, marking the largest-ever first-time share sale by a foreign company in the United States. This ambitious listing, which is seen as a strategic move to capitalize on the booming demand for advanced memory chips driven by the global AI market, saw the company's shares indicated to open 21% above their offering price immediately following the launch.

The proceeds from the share sale are expected to bolster SK Hynix's position amid the increasing competition to build AI data centers, as demand for high-performance memory solutions surges. The shares are set to begin trading on the Nasdaq, thereby setting a significant precedent for future foreign listings on the US stock market. This milestone exemplifies the growing investment interest in the semiconductor industry, particularly as technology firms expand their capabilities to meet the demands of AI advancements.

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SK Hynix Raises $26.5 Billion in Largest US Share Sale by a Foreign Company

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