South Korean chipmaker SK hynix Inc. said Friday it will raise about 40 trillion won ($26.5 billion) through the listing of its American depositary receipts (AD

SK Hynix plans a $28 billion Nasdaq ADR listing, already 7x oversubscribed, as the AI memory chip leader targets US investors with ticker SKHY on July 10.

SK Hynix’s US ADR listing was more than seven times oversubscribed, sources say, as the chipmaker prepares to price ahead of a 10 July Nasdaq debut.