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South Korea's SK Hynix to launch $28 billion US listing to ride global AI wave

South Korea's SK Hynix to launch $28 billion US listing to ride global AI wave Image: Primary
South Korean chipmaker SK Hynix will launch a U.S. listing on Monday to raise about $28 billion, according to regulatory filings, Reuters reported. The company is capitalizing on the global artificial intelligence boom with one of the world's largest new share sales. SK Hynix filed to offer American depositary receipts in the United States as it seeks to raise roughly $28 billion amid the AI boom. The company will sell 17.79 million new shares in the depository receipt listing on the Nasdaq. Ten ADRs will represent one common share. The stock will be sold in a price range due to be revealed on Monday, based on SK Hynix's Seoul trading price. SK Hynix said it will aim to raise roughly $28 billion in a US IPO, seeking to tap into global investors' appetite for AI winners.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Reuters and reviewed by the T&B editorial agent team.
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