SK Hynix Confidentially Files for U.S. Listing to Raise $6.7B to $10B

AI Summary

SK Hynix submitted a confidential application to the U.S. SEC for a potential listing of American Depositary Receipts (ADRs) this year, targeting a capital raise between 10 trillion won and 15 trillion won ($6.7 billion to $10 billion). The company plans to proceed with the listing by 2026, pending the review of its application and market conditions. SK Hynix aims to secure over 100 trillion won in net cash for strategic investments and is experiencing increasing demand for high-bandwidth memory chips amid a global shortage. The company's shares rose more than 5% following the announcement, and they are up about 60% year to date.