SEOUL—South Korean memory chipmaker SK Hynix launched a U.S. share sale on Monday ahead of its planned Nasdaq market debut, seeking to raise about $28 billion as it looks to capitalize on surging global demand for artificial intelligence infrastructure in one of the largest equity offerings in recent years.
The company said in regulatory filings it will issue 17.79 million new shares through American depositary receipts (ADRs), with each common share represented by 10 ADRs. The offering price range was due to be announced on Monday based on the company's July 3 Seoul market closing price, while the final price is scheduled to be set later this week before trading begins on Friday.
The listing is intended to broaden SK Hynix's international investor base while raising capital for manufacturing expansion as demand accelerates for high-bandwidth memory (HBM) chips used in advanced AI systems. The company has said proceeds will help finance new semiconductor fabrication facilities in South Korea and purchases of advanced chipmaking equipment, including extreme ultraviolet lithography systems.
SK Hynix has emerged as one of the semiconductor industry's biggest beneficiaries of the AI investment boom, supplying HBM chips used in AI servers and advanced computing systems for customers including Nvidia and Google. Its shares have climbed sharply this year despite recent volatility in technology stocks linked to concerns over AI-related valuations.
The company's Seoul-listed shares fell during Monday trading as investors weighed the sizeable capital raising and broader market weakness, although the stock remains up several hundred percent so far in 2026, according to market data.
The offering comes as South Korea intensifies efforts to strengthen its position in the global semiconductor supply chain. The government last week announced a long-term industrial strategy centered on semiconductors and artificial intelligence, including plans for hundreds of billions of dollars in investment to expand domestic chip production and related infrastructure.
Market participants said the Nasdaq listing could improve SK Hynix's visibility among international investors and narrow valuation differences with major U.S.-listed semiconductor companies. Strong interest has already been signaled by several institutional investors, according to people familiar with the offering cited by Reuters.
The company is scheduled to complete investor meetings during the week before the offering is priced, with Nasdaq trading expected to begin on Friday, subject to the completion of the transaction.
