SK Hynix has launched a blockbuster $28 billion US listing, set to debut on Nasdaq this Friday.

SK Hynix has launched a blockbuster $28 billion US listing, set to debut on Nasdaq this Friday. The company plans to sell 17.79 million new shares as ADRs, with the price range to be revealed later today (Source 3). This is the largest share sale by a non-US tech company in history, and it aims to give SK Hynix access to a deeper pool of AI-focused investors (Source 2). The listing comes amid a broader AI boom, with SK Hynix supplying HBM chips to Nvidia and Google, and it is expected to narrow the valuation gap with rival Micron (Source 5). The company's stock fell 5% on Monday amid a broader market dip, but has surged 273% year-to-date. The capital raise will fund a 100 trillion won investment plan for new chip facilities (Source 5). The listing follows South Korea's $576 billion industrial strategy to boost chip and AI leadership (Source 5). The HBM4 race is intensifying, with SK Hynix, Samsung, and Micron competing for custom chip demand (Source 4).

What the sources said:

• Source 3 (Reuters): "SK Hynix launches a US share sale to raise ~$28B; the company plans to sell 17.79M new shares."
• Source 2 (Bloomberg Video): "SK Hynix's $29B US listing set for Nasdaq Friday... SK Hynix seeks access to AI investors in US listing."
• Source 5 (Economic Times): "The deal would rank as the world's second-largest share sale, behind only SpaceX's record $85.7 billion IPO."