SK hynix headquarters in Icheon, Gyeonggi Province (Yonhap) SK hynix said Wednesday it plans to begin trading American depositary receipts on the Nasdaq Stock Market on July 10, potentially raising up to 45.5 trillion won ($33 billion) to fund a major expansion of its artificial intelligence chip production capacity.The Korean memory chipmaker said its board approved the issuance of ADRs backed by newly issued common shares. The proceeds will be used to finance key semiconductor projects, including the first fabrication plant at the Yongin semiconductor cluster, the P&T7 advanced packaging facility in Cheongju and additional investments in chip equipment and infrastructure.Under the plan, SK hynix will issue up to 17.79 million new common shares, equivalent to about 2.5 percent of its outstanding shares, through a third-party allotment to an overseas depositary institution. The institution will then issue ADRs backed by the shares and sell them to overseas institutional investors.The maximum fundraising amount is set at 45.45 trillion won. The final offering size and price will be determined through bookbuilding and may change depending on investor demand and market conditions.The company plans to file a securities registration statement in Korea and a Form F-1 registration statement with the US Securities and Exchange Commission.Institutional bookbuilding is scheduled to begin on July 7 after the registration statement takes effect. Pricing, underwriting agreements and the Nasdaq debut are expected on July 10, with settlement scheduled for July 14.ADRs are US-listed securities that represent shares of foreign companies, allowing overseas firms to access US capital markets while enabling American investors to invest in foreign stocks without directly trading on overseas exchanges. Major semiconductor companies such as TSMC and ASML already trade in the US through ADR programs."Through the ADR listing, we expect to diversify our investor base and achieve a valuation that better reflects our corporate value," an SK hynix official said."We will further strengthen our position as a global company by expanding our presence in the US, the center of AI innovation."