South Korean chipmaker SK Hynix has launched a US share sale to raise about $28 billion, seeking to tap global investor demand for companies tied to the artificial intelligence boom. The company plans to issue American depositary receipts on Nasdaq, in what could become one of the largest foreign listings in the US. The shares are expected to trade under the ticker SKHY.
According to The Wall Street Journal, SK Hynix has lowered its fundraising target to about 43.14 trillion won, or $28.21 billion, after a recent decline in its share price. The company had earlier aimed to raise about 45.45 trillion won.
