market value top $1tn in its home country<\/a>, lifted by the boom in demand for AI chips. <\/p>\nIts share price has more than tripled in South Korea this year, which along with Samsung Electronics has helped boost the benchmark Kospi index by more than 70% over the same period. <\/p>\n
Each American depositary share is equivalent to a tenth of a Seoul-traded common share, SK Hynix said. <\/p>\n
SK Hynix is one of the world’s biggest manufacturers of advanced memory chips used in AI infrastructure such as data centres. <\/p>\n
Demand for the offering was reportedly over seven times more than the number of shares available, highlighting the strong investor appetite for a key company in the AI supply chain. <\/p>\n
The offering gives US investors a way to buy SK Hynix shares without having to trade via an overseas stock exchange. <\/p>\n
It gives the firm easier access to the huge amounts of potential investment from the world’s biggest economy. <\/p>\n
The company has previously said it will invest in developing South Korea’s chip making and AI capabilities in the coming years. <\/p>\n
In June, the country’s government unveiled plans for more than $880bn of investments in partnership with SK Hynix and Samsung. <\/p>\n
Both SK Hynix and Samsung have stock market valuations of more that $1tn, joining growing group of firms which includes tech giants Nvidia, Apple, Microsoft and Google-owner Alphabet. <\/p>\n
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