SK Hynix is working on mega IPO of $28bn on Nasdaq
In order to benefit from the global rise of artificial intelligence, South Korean semiconductor giant SK Hynix is launching a listing in the United States worth $28 billion (around €24.5 billion).
According to official regulatory documents, the company plans to offer 17.79 million new shares via depositary receipts on the Nasdaq. That move is intended to position the company as one of the most sought-after technology firms in the world. Each common share will be represented by 10 ADRs, with the exact price – linked to the company’s current market value in Seoul – to be confirmed.
The company has seen a spectacular rise in its valuation, with the share price increasing by about 273% this year as a result of intense investor interest in AI-related stocks.
Thanks to this growth, SK Hynix has outperformed major competitors such as Micron and Samsung Electronics when it comes to capitalising on the AI trend.
As for the timing, the company’s management will meet international investors this week during a roadshow. The final price for the New York listing will be announced on Thursday, after which trading will officially start on Friday.
The IPO is expected to be the second-largest share sale in history, behind only last month’s SpaceX listing, surpassing earlier milestones set by Alibaba in 2014 and Saudi Aramco in 2019.
As a crucial supplier of high-bandwidth memory, SK Hynix delivers essential components for AI frameworks used by technological frontrunners such as Google and Nvidia. To further expand its reach, the company recently committed 100 trillion won (around €57.1 billion) to the construction of additional semiconductor plants, including a NAND Flash memory facility. This initiative is part of a broader South Korean strategy to maximise the economic benefits of the AI revolution.
Business AM
Subscribers 0
Fans 0
Followers 0
Followers