SK Hynix files New York ADR paperwork to attract investors
Business
SK Hynix, one of South Korea's top chip makers, is gearing up for a massive US stock listing in New York.
By submitting its financials to regulators, the company is hoping to attract more global investors and tap into international markets.
The ADR listing was first announced in March and is expected sometime this year.
SK Hynix could raise $26 billion
The sale could bring in up to $26 billion, making it one of South Korea's biggest overseas offerings ever.
SK Hynix's stock has soared over 300% this year thanks to its high-bandwidth memory chips that power AI tech.
Major banks like Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America are handling the deal.
If all goes smoothly with reviews wrapping up by July 3, trading could start soon after.