SK Hynix Pulls in USD26.5B in US Listing, Riding AI Chip Boom
(MENAFN) South Korea's SK Hynix has pulled in roughly $26.5 billion through a US share sale, underscoring investors' hunger for companies powering the artificial intelligence buildout.
The chipmaker priced 177.9 million American Depositary Shares at $149 apiece, a filing with the US Securities and Exchange Commission shows. Since each ADS corresponds to one-tenth of a common share, the deal amounts to roughly 17.79 million newly issued shares.
Trading of the ADSs is set to begin on the Nasdaq under the ticker "SKHY," even as the company's main listing stays on the Korea Exchange.
The offering ranks among the biggest in US market history and stands as the largest-ever US listing by a foreign firm — topping the $25 billion Alibaba raised back in 2014.
SK Hynix said the proceeds will go toward general corporate needs, including capital spending.
The timing reflects the company's push to scale up output of high-bandwidth memory, or HBM — a critical component paired with advanced processors inside AI data centers. SK Hynix ranks among the world's top HBM suppliers and is also a major player in DRAM and NAND flash memory.
Demand for HBM has climbed sharply as tech giants pour money into AI computing power and data center infrastructure. Regulatory filings show SK Hynix commands a 56.4% share of the global HBM market.
The company is pouring additional investment into new manufacturing plants and advanced chip-packaging capacity as the industry races to keep pace with tight supplies of AI-related memory chips.
The chipmaker priced 177.9 million American Depositary Shares at $149 apiece, a filing with the US Securities and Exchange Commission shows. Since each ADS corresponds to one-tenth of a common share, the deal amounts to roughly 17.79 million newly issued shares.
Trading of the ADSs is set to begin on the Nasdaq under the ticker "SKHY," even as the company's main listing stays on the Korea Exchange.
The offering ranks among the biggest in US market history and stands as the largest-ever US listing by a foreign firm — topping the $25 billion Alibaba raised back in 2014.
SK Hynix said the proceeds will go toward general corporate needs, including capital spending.
The timing reflects the company's push to scale up output of high-bandwidth memory, or HBM — a critical component paired with advanced processors inside AI data centers. SK Hynix ranks among the world's top HBM suppliers and is also a major player in DRAM and NAND flash memory.
Demand for HBM has climbed sharply as tech giants pour money into AI computing power and data center infrastructure. Regulatory filings show SK Hynix commands a 56.4% share of the global HBM market.
The company is pouring additional investment into new manufacturing plants and advanced chip-packaging capacity as the industry races to keep pace with tight supplies of AI-related memory chips.
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