SK Hynix Eyes Up to $10 Billion From Potential US Listing, Daily Says

SK Hynix Inc. is seeking to raise 10 trillion won to 15 trillion won ($10 billion) from a potential listing in the US, the Korea Economic Daily reported, as companies rush to increase capacity to meet memory chip demand fueled by the artificial-intelligence boom.

The South Korean chipmaker plans to issue new shares for a listing of American depositary receipts, the publication said, citing industry sources it didn’t name. SK Hynix is earmarking the potential proceeds for building AI infrastructure such as a semiconductor cluster in Yongin, South Korea, as well as for expanding capacity for memory products, the Daily said.