SK Hynix plans U.S. IPO to raise billions amid AI-driven memory chip boom
By
Julie Bort
Summary
SK Hynix, the South Korean memory chipmaker and rival to Samsung and Micron, is planning a U.S. IPO by selling nearly 17.8 million shares via American depositary receipts (ADRs). The company could raise around $28 billion based on its Seoul closing price. The IPO is expected on Friday, driven by the company's boom credited to the AI industry's growing demand for memory chips.
Source
TechCrunchSK Hynix plans U.S. IPO to raise billions amid AI-driven memory chip boomtechcrunch.comKey quotes
· 3 pulledSouth Korean memory chipmaker SK Hynix, rival to Samsung and U.S.-based Micron, is planning to sell nearly 17.8 million shares in a U.S. IPO, the company said on Monday.
Should its shares sell well (and there's indication that they will), the company could raise around $28 billion, based on SK Hynix's closing share price last Friday in Seoul, Bloomberg reports.
SK Hynix will be offering American depositary receipts (ADRs), a type of certificate that lets U.S. investors buy a foreign stock without trading directly on an overseas exchange.
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