000660.KS is trading 8.3% up now at KRW 2,838,500 after announcing plans to raise up to $29 billion via a large American Depositary Receipt (ADR) listing on Nasdaq to fund AI-focused capacity expansion and new fabs.
- The capital raise is designed to provide significant growth funding for advanced memory and AI chips while expanding global investor access.
- Analysts have responded with target price hikes, citing optimism over the strategic ADR plan and robust long-term demand within the AI sector.