SK hynix seeks up to W45.5tr in July Nasdaq debut

SK hynix said Wednesday it plans to begin trading American depositary receipts on the Nasdaq Stock Market on July 10, potentially raising up to 45.5 trillion won ($33 billion) to fund a major expansion of its artificial intelligence chip production capacity.

The Korean memory chipmaker said its board approved the issuance of ADRs backed by newly issued common shares.

The proceeds will be used to finance key semiconductor projects, including the first fabrication plant at the Yongin semiconductor ...