SK Hynix, South Korea’s memory chipmaker, files to raise up to about $29 billion through an American depositary receipt (ADR) listing on Nasdaq, according to regulatory disclosures reported by multiple outlets. The company plans to issue up to 45.45 trillion won (about $29.4 billion) by creating new ordinary shares that are deposited with a custodian in South Korea. A U.S. depositary bank then issues ADRs that represent those underlying shares, allowing investors to trade SK Hynix in the U.S. equity market. SK Hynix tentatively sets the ADR debut for July 10. The indicative ADR price is reported as 255,500 won per ADR, based on the company’s prior closing price of 2.555 million won for the underlying common shares. Each ADR represents 0.1 of a common share, and the offering contemplates issuing 17.79 million new shares. Bank of America, Citi, Goldman Sachs, and J.P. Morgan are listed as joint lead underwriters. Outlets also note that the size of the deal could be among the largest ADR offerings on record.
SK Hynix plans $29 billion Nasdaq ADR offering, with trading set for July 10
SK Hynix, South Korea’s memory chipmaker, files to raise up to about $29 billion through an American depositary receipt (ADR) listing on Nasdaq, according to regulatory disclosures reported by multipl...
- SK Hynix plans to raise up to about 45.45 trillion won (around $29–$29.4 billion) via a Nasdaq ADR offering.
- The company sets a tentative Nasdaq trading start date of July 10.
- The ADR structure uses newly issued ordinary shares deposited in Korea, with ADRs issued by a U.S. depositary bank.
- The indicative price is reported as 255,500 won per ADR; each ADR represents 0.1 of a common share.
- Bank of America, Citi, Goldman Sachs, and J.P. Morgan are named as joint lead underwriters.
SK hynix is set to raise up to 45.45 trillion won ($29.4 billion) through an American depositary receipt (ADR) offering backed by newly issued shares, expanding its global investor base and funding major semiconductor projects. The chip giant said Wednesday that its board approved the ADR issuance, with the securities set to debut on Nasdaq on July 10. Depositary receipts are bank-issued securities that represent shares in a foreign company, allowing investors to trade them on local exchanges. Under the offering structure, newly issued common shares will be deposited with a local custodian in Korea, and a U.S. depositary bank will issue ADRs representing those underlying shares for trading on Nasdaq. The indicative price is set at 255,500 won per ADR, based on the company's Tuesday closing price of 2.555 million won for the underlying common shares. Each ADR will represent 0.1 of a common share, with up to 17.79 million new shares to be issued under the offering. Bank of America, Citi, Goldman Sachs and J.P. Morgan are acting as joint lead underwriters for the offering. The Korea Securiti
22 hours agoThe South Korean memory chipmaker plans to issue 17.79 million new shares, with trading expected to begin July 10
22 hours agoSK Hynix has filed to raise up to 45.45 trillion won, roughly $29bn, through a listing of American depositary receipts on Nasdaq, the South Korean memory maker disclosed in a regulatory filing on Wednesday. The company has tentatively set July 10 for the debut and intends to issue 17.79 million new shares to back the […] This story continues at The Next Web
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