SK Hynix seeks Nasdaq ADR listing to raise up to 45 trillion won
The South Korean chipmaker said on June 24 it aims to raise about $29 billion in July, with proceeds slated for domestic factory construction and EUV equipment purchases.
Summary
SK Hynix has filed for a Nasdaq listing, marking a potential U.S. capital markets move by the South Korean chipmaker. The company said on June 24 that it plans to raise up to 45 trillion won, or about $29 billion, through an ADR (American depositary receipt, U.S.-traded share certificate) listing in July. It said the proceeds would be used for factory construction in South Korea and purchases of EUV (extreme ultraviolet chipmaking) equipment, underscoring a push to expand advanced semiconductor manufacturing capacity.
Terms & Concepts
- ADR: American depositary receipt, a U.S.-traded certificate representing foreign shares.
- EUV: Extreme ultraviolet lithography equipment used to make advanced chips.