SK Hynix U.S. Listing Set to Raise $28 Billion
South Korea’s SK Hynix is launching a U.S. share offering to raise approximately $28 billion, which would mark the second-largest share sale in history, following SpaceX’s recent $85.7 billion IPO. The pricing is set for Thursday, July 9, with trading expected to commence on Friday, July 10. The company, a key player in the AI memory sector, plans to sell 17.79 million new shares through American depositary receipts (ADRs) on the Nasdaq.
Interest from major investors has surged, with indications of up to $7 billion in combined interest from firms like Baillie Gifford and Coatue Management. Proceeds from the offering will be used to expand production capacity in South Korea, addressing high demand for high-bandwidth memory, which is crucial for AI applications.
SK Hynix’s stock has risen over 200% this year, elevating its market value to over $1 trillion. With this listing, it expands investor access to a leading memory manufacturer alongside existing options like Micron, reshaping investment opportunities in the AI memory landscape.
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