SK Hynix Raises $29.4B in Nasdaq ADR Offering on July 10

SK Hynix will issue 17.79 million new ADRs on the Nasdaq on July 10 to raise 45.45 trillion won ($29.4 billion). The South Korean memory chip giant plans to use proceeds to build a chip factory in Yongin, construct an advanced packaging fab in Cheongju, and purchase chipmaking equipment including an Extreme Ultraviolet Scanner.

The Roundhill Memory ETF (DRAM), which holds SK Hynix as a top three holding, rose 4.2% in Wednesday's premarket session as investors positioned ahead of Micron's third-quarter earnings report, due after U.S. market hours today.