SK Hynix raises $26.5B in record US share offering

• Proceeds to support capital spending as AI-driven demand for high-bandwidth memory accelerates

South Korean semiconductor manufacturer SK Hynix raised approximately $26.5 billion through a US share offering, highlighting strong investor demand for companies supplying critical components for artificial intelligence infrastructure.

The company priced 177.9 million American Depositary Shares (ADSs) at $149 each, according to a filing with the US Securities and Exchange Commission.

Each ADS represents one-tenth of a SK Hynix common share, meaning the offering covers about 17.79 million newly issued common shares.

The company's ADSs are expected to trade on the Nasdaq under the ticker symbol "SKHY," while its primary listing will remain on the Korea Exchange.

The transaction is one of the largest share offerings in US market history and the largest US listing by a foreign company, exceeding the $25 billion raised by Chinese e-commerce company Alibaba in 2014.

SK Hynix said it intends to use the net proceeds for general corporate purposes, including capital expenditures.

The offering comes as the company expands production to meet rapidly growing demand for high-bandwidth memory, or HBM, which is used alongside advanced processors in artificial intelligence data centers.

SK Hynix is a leading global supplier of HBM chips and a major producer of dynamic random-access memory and NAND flash products.

Demand for HBM has surged as technology companies increase spending on AI computing capacity and advanced data centers.

According to the company's regulatory filing, SK Hynix held a 56.4% share of the global HBM market.

The company is also investing in new production facilities and advanced chip-packaging capacity as manufacturers seek to address tight supplies of AI-related memory products.