[Edaily Reporter Park Sun-Yeop ] SK hynix is showing strength in after-hours trading following news that it will list its depositary receipts (DRs) on the Nasdaq Stock Market in the U.S. and raise funds for large-scale facility investments.
According to the alternative trading system (ATS) Nextrade (NXT) on the 24th, SK hynix(000660)was trading at 2,695,000 won in after-hours trading at 5:08 p.m., up 140,000 won (5.48%) from the previous trading day. Earlier, during regular trading hours, the stock closed at 2,580,000 won, up 25,000 won (0.98%) from the previous trading day.

The rise in the stock price was driven by news of plans to list U.S. depositary receipts (DRs). SK hynix announced today that it held a board meeting and decided to issue U.S. DRs based on new shares issued through a third-party allotment and deposited with an overseas depositary, with the aim of listing them on overseas markets.
The planned listing venue is the Nasdaq Stock Market in the U.S. According to the current plan, the Nasdaq listing date is scheduled for the 10th of next month, with the subscription and payment period set for the 14th of the same month. The scheduled listing date for the new shares on domestic exchanges is the 29th of next month.
According to the announcement, the provisional total issuance amount of DRs is 45.4534 trillion won. This figure was calculated based on the maximum allowable issuance of 17.79 million new shares, using the closing price of 2,555,000 won on the 23rd—the day before the board resolution. The conversion ratio is set at 0.1 ordinary share per DR. The final issue price and the amount to be raised will be determined following a bookbuilding process targeting overseas institutional investors.
The lead underwriters for this public offering are Bank of America, Citigroup, Goldman Sachs, and J.P. Morgan Securities.
SK hynix plans to allocate the entire amount raised from this offering to capital expenditures. Specifically, the funds will be used for the construction of the Phase 1 fab at the Yongin Semiconductor Cluster, the construction and equipment procurement for the Cheongju Packaging & Test (P&T) 7 advanced packaging plant, and the acquisition of machinery such as extreme ultraviolet (EUV) lithography equipment.
The market appears to be prioritizing expectations of expanded production capacity to meet growing demand for artificial intelligence (AI) semiconductors and the broadening of the global investor base, rather than concerns over equity dilution resulting from the large-scale issuance of new shares. There are expectations that if the NASDAQ DR listing materializes, it will increase accessibility for U.S. investors and potentially boost the likelihood of inclusion in global semiconductor and technology stock funds in the future.
The company stated, “The total issuance amount disclosed, the amounts allocated to each funding purpose, and key schedules are subject to change depending on the results of the bookbuilding process and the finalization of the issuance terms.”