SK Hynix to List in US, Raising $28 Billion in AI-Driven IPO
South Korean memory chipmaker SK Hynix plans to sell 17.8 million shares in a US IPO, potentially raising $28 billion. The move comes as the company rides an AI-fueled boom, with demand for memory chips outpacing supply due to the growth of AI data centers and hyperscalers.
Key points
- SK Hynix, a South Korean memory chipmaker, is planning to list in the US with an initial public offering (IPO) of nearly 17.8 million shares.
- The IPO is expected to raise around $28 billion, based on SK Hynix's closing share price last Friday in Seoul.
- The company is offering American depositary receipts (ADRs), which will let US investors buy a foreign stock without trading directly on an overseas exchange.
- Each ADR will represent a tenth of a common share, and the securities are expected to price on Thursday and begin trading on Friday.
- The move comes as SK Hynix rides an AI-fueled boom, with demand for memory chips outpacing supply due to the growth of AI data centers and hyperscalers.
- The shortage of memory chips has been dubbed 'RAMageddon' and is forcing companies like Apple to raise prices on Mac computers and iPads.
SK Hynix, a South Korean memory chipmaker, is planning to list in the US with an initial public offering (IPO) of nearly 17.8 million shares. The move is expected to raise around $28 billion, based on SK Hynix's closing share price last Friday in Seoul.
The company is offering American depositary receipts (ADRs), which will let US investors buy a foreign stock without trading directly on an overseas exchange. Each ADR will represent a tenth of a common share, and the securities are expected to price on Thursday and begin trading on Friday.
The move comes as SK Hynix rides an AI-fueled boom, with demand for memory chips outpacing supply due to the growth of AI data centers and hyperscalers. The shortage of memory chips has been dubbed 'RAMageddon' and is forcing companies like Apple to raise prices on Mac computers and iPads.
As the demand for memory chips continues to grow, SK Hynix's IPO is seen as a significant development in the tech industry. The company's success will be closely watched by investors and analysts, who will be looking to see how the company performs in the US market.
Sources
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