South Korean semiconductor manufacturer SK Hynix announced a plan on Wednesday to raise approximately 45.45 trillion won ($29.4 billion) through a listing of American Depositary Receipts (ADRs) in the United States. According to a regulatory filing, the company intends to use the capital to expand its production capacity for advanced memory chips used in artificial intelligence and to broaden its international investor base.
The proposed offering would allow the company’s shares to be traded on a U.S. stock exchange. American Depositary Receipts are certificates issued by a U.S. bank that represent a specified number of shares in a foreign company’s stock. This mechanism enables foreign-based corporations to be listed on American exchanges and offers U.S. investors a way to purchase stock in overseas companies.
SK Hynix is a leading global producer of memory chips, including High Bandwidth Memory (HBM), a critical component for the graphics processing units (GPUs) that power complex AI systems. The company is a key supplier to major technology firms, including Nvidia, which currently dominates the market for AI accelerators.
The capital-raising initiative aligns with the company’s broader expansion strategy in the United States. In April, SK Hynix announced plans to build a $3.87 billion advanced chip packaging plant in West Lafayette, Indiana. That facility is intended to produce next-generation HBM chips, with mass production slated to begin in the second half of 2028.
The announcement positions SK Hynix amid intense competition within the semiconductor industry to meet the surging global demand for AI-related hardware. Other major memory chip manufacturers, such as Samsung Electronics and Micron Technology, have also announced significant investments to increase their HBM production capabilities.
The filing on Wednesday outlines the company’s intention to list the ADRs. The specific U.S. exchange, the timing of the listing, and the final amount to be raised have not yet been determined.
