SK Hynix is filing with South Korea's financial regulator to list American Depositary Receipts in the US, potentially raising up to $26 billion（約4.2兆円） and joining the world's largest equity offerings.

Yahoo Finance AI3h ago3 min read

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3 Key Points

What happened
SK Hynix plans to submit a filing to Korea's financial regulator for an American Depositary Receipt (ADR) offering in the US market. The company will issue shares in South Korea and deposit them with the Korea Securities Depository to serve as the underlying securities for the ADRs. Industry estimates suggest the offering could be sized at as much as 40 trillion won ($26 billion（約4.2兆円）), comparable to Alibaba Group Holding Ltd.'s 2014 offering, which was the biggest at the time.
Why it matters
SK Hynix has surged more than 300% this year as a major beneficiary of the AI boom, thanks to its dominant position in high-bandwidth memory (HBM) chips used in Nvidia Corp.'s AI accelerators. A US listing is expected to broaden the company's global investor base, improve access to capital markets, and potentially narrow the valuation gap with US semiconductor peers by increasing visibility among global investors.
What to watch
South Korea's financial watchdog's review could be completed by July 3, with trading potentially beginning as early as next month. Citigroup Inc., JPMorgan Chase & Co., Goldman Sachs Group Inc., and Bank of America Corp. are the ADR listing's arrangers. The company first disclosed its ADR plans in March and aims to complete the offering in the second half of the year.

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