SK Hynix (000660) Plans $29 Billion Nasdaq Listing for ADRs

AI Summary

SK Hynix (000660) plans to raise approximately $29 billion through a Nasdaq listing by issuing 17.79 million new shares. The American depositary receipts (ADRs) could allow broader access to the U.S. market, with trading expected to start on July 10, subject to change. SK Hynix holds around 60% market share in high bandwidth memory (HBM) and has seen its shares increase over 280% this year. This surge pushed its market capitalization above $1 trillion, indicating strong investor interest due to high demand for memory chips amid AI advancements.