Woofun AI reports that SK Hynix intends to raise up to 45 trillion Korean won, approximately $29 billion, through an American Depositary Receipt (ADR) offering in New York scheduled for July. If executed, this capital raise would eclipse Alibaba's $25 billion initial public offering in 2014, marking one of the largest overseas equity financings in South Korean corporate history. The transaction structure involves issuing shares domestically before depositing them into a Korean securities depository to serve as underlying assets for the ADRs, with regulatory approval anticipated by July 3rd.

The proceeds are designated for expanding the Yongin Semiconductor Cluster in South Korea and constructing a new facility in Indiana, USA, alongside the acquisition of EUV Extreme Ultraviolet Lithography equipment. This expansion aims to bolster advanced storage capacity for the AI sector. Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America have been appointed as lead underwriters. SK Hynix's valuation confidence stems from its leadership in High Bandwidth Memory (HBM) as a key supplier to NVIDIA. CEO Lee Seok-hee emphasized that accessing US capital markets is strategic for achieving valuation parity with other major AI hardware firms, following a year-to-date stock price surge exceeding 300%.