SK Hynix (HXSCL) filed an amended registration statement with the U.S. Securities and Exchange Commission on Monday to list its shares on the Nasdaq.
The South Korean AI memory chipmaker plans to offer American Depositary Shares under the symbol SKHY, with each ADS representing a fraction of its common stock listed in Seoul.
SK Hynix's board authorized the issuance of up to 17.79 million new shares, representing about 2.5% of its 712.7 million outstanding shares, according to the filing. The company plans to use the proceeds primarily for 45.5 trillion won in capital expenditures tied to new production facilities in Korea. SK Hynix also intends to acquire EUV scanners, a key chipmaking tool, which it expects will cost about 11.9 trillion won and be delivered by Dec. 2027. SK Hynix added that any funding gaps would be covered by operating cash flow, borrowings under credit facilities, and debt securities.
The offering, targeted to raise 45.45 trillion won ($29.4 billion), is being managed by Bank of America, Citigroup, Goldman Sachs, and JPMorgan as global coordinators. SK Hynix expects its shares to begin trading on July 10.