SynopsisSouth Korea's SK Hynix is set to raise a massive $29.43 billion through American Depositary Receipts on Nasdaq. This significant capital infusion aims to bolster its investor base and expand production capacity for crucial AI chips. Funds will be channeled into building a new chip factory in Yongin, an advanced packaging facility in Cheongju, and acquiring state-of-the-art equipment like EUV scanners.South Korea's SK Hynix said on Wednesday it plans to raise 45.45 trillion won ($29.43 billion) via the listing of American Depositary receipts (ADRs), as it seeks to expand its investor base and production capacity for chips used in artificial intelligence.The amount is subject to change after bookbuilding, SK Hynix said in a regulatory filing.The world's second-largest memory chipmaker plans to issue 17.79 million new shares to back a listing of ADRs on the Nasdaq market on July 10, it said.SK Hynix said the proceeds will be used to build a chip factory in the city of Yongin, an advanced packaging fab in Cheongju and purchase chipmaking equipment such as an Extreme Ultraviolet Scanner (EUV).($1 = 1,544.1400 won) ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now
South Korea's SK Hynix says to raise $29 billion in ADR listing - The Economic Times
South Korea's SK Hynix is set to raise a massive $29.43 billion through American Depositary Receipts on Nasdaq. This significant capital infusion aims to bolster its investor base and expand production capacity for crucial AI chips. Funds will be channeled into building a new chip factory in Yongin, an advanced packaging facility in Cheongju, and acquiring state-of-the-art equipment like EUV scanners.
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