SK Hynix seeks to raise $29 billion in Nasdaq ADR listing (opens in new tab)

SK Hynix said it plans to raise up to 45.45 trillion won ($29.4 billion) by issuing 17.79 million new shares as American depositary receipts for a Nasdaq listing expected to start trading on July 10. The South Korean memory-chip maker filed with South Korean regulators and the U.S. Securities and Exchange Commission as it seeks to expand its U.S. investor base during strong demand for AI-related memory chips. The company said proceeds will fund semiconductor facilities and equipment, includin...