SK Hynix eyes $29B Nasdaq ADR listing to broaden US investor base
SK Hynix surged over 11% after saying it plans to raise up to about $29.4 billion via a Nasdaq listing by issuing 17.79 million American depositary receipts, aiming to broaden its US investor base and narrow its valuation gap with Micron; trading is expected to begin around July 10 as the company expands AI memory-chip capacity in Korea and builds a $4 billion U.S. packaging plant in Indiana.