South Korean chipmaker SK Hynix is launching a U.S. listing on the Nasdaq to raise approximately $28 billion. This offering represents one of the world's largest new share sales.
The company will sell 17.79 million new shares through American depositary receipts (ADRs). This capital will fund expansion to capitalize on booming global AI demand.
The listing provides U.S. investors with direct access to the stock. SK Hynix expects to set the final price on Thursday.
Trading will commence on Friday. The offering ranks among the largest-ever for a foreign company on a U.S. exchange.