South Korean semiconductor manufacturer SK Hynix filed a request on Wednesday with the US Securities and Exchange Commission to list shares in the form of depositary certificates on the American stock exchange at a value that could reach $29 billion.
The company intends to offer up to 17.79 million new shares in the form of depositary receipts, and plans to list them on the Nasdaq Global Select Market on Wall Street.
Hynix said it expects to use the proceeds from the offering to fund general corporate purposes, including capital expenditures.
During the three months ending 31 March, the South Korean company's revenues reached 52.576 trillion South Korean won ($98.85 billion), compared with 17.639 trillion won during the same period the previous year. The company's net profit in the first quarter of the current year reached 40.346 trillion won, compared with 8.108 trillion won in the previous year.