SK Hynix Files for U.S. Listing, Could Raise Up to $14 Billion

South Korean chipmaker SK Hynix filed for a U.S. listing, aiming to raise up to $14 billion. The company plans to sell 2-3% of its shares to fund expansion in Yongin, South Korea, and Indiana, USA. Strong demand for AI data center chips drives the need for increased production capacity.

The confidential filing allows SK Hynix to withhold financial details until closer to the listing. The Korea Corporate Governance Forum opposes the issuance of new shares, urging SK Hynix to buy back 10-15% of its stock instead.

Chey Tae-won, SK Group Chairman, supports a potential U.S. ADR listing to attract global investors. SK Hynix recently ordered $11.95 trillion worth of ASML’s EUV lithography tools, positioning itself as the top supplier of HBM semiconductors.