South Korean memory chipmaker SK Hynix completes a major U.S. share sale, raising about $26.5 billion through an American depositary share (ADR) offering. The deal is structured as newly issued common shares in Korea, deposited with a custodian, with a U.S. depositary bank issuing ADRs that trade on Nasdaq. Multiple outlets describe it as the largest-ever U.S. debut or first-time share sale by a non-U.S. company, surpassing prior foreign listings such as Alibaba’s 2014 offering. Pricing is reported at $149 per ADR, and Quartz notes the number of ADRs sold—177.9 million. The shares are set to begin trading on Nasdaq on Friday, according to BBC, with other coverage referencing a scheduled debut date around July 10. Coverage also frames the listing as a strategy to attract U.S. investors, particularly those focused on artificial intelligence demand for semiconductors, while also emphasizing that the fundraising supports major semiconductor projects. Underwriters named by Korea Times include Bank of America, Citi, Goldman Sachs and J.P. Morgan. Demand is described as robust in Bloomberg-related reporting.
SK Hynix raises $26.5bn in Nasdaq ADR debut, largest US listing by a foreign firm
South Korean memory chipmaker SK Hynix completes a major U.S. share sale, raising about $26.5 billion through an American depositary share (ADR) offering. The deal is structured as newly issued common...
- SK Hynix raises about $26.5 billion via a Nasdaq ADR offering.
- The ADRs begin trading on Nasdaq on Friday (with some coverage pointing to a July 10 debut date).
- The listing is described as the largest U.S. debut or first-time share sale by a foreign company, surpassing Alibaba’s 2014 U.S. offering.
- The offering price is reported at $149 per ADR, with 177.9 million ADRs priced at that level.
- The ADR structure uses newly issued common shares in South Korea with ADRs issued by a U.S. depositary bank for trading in the U.S.
Just one trading session after a highly successful U.S. listing for its depositary receipts, local shares in South Korean chip maker SK Hynix plummeted 15% on the domestic exchange in Seoul.
3 weeks agoSK Hynix shares declined in Seoul on Monday after the memory chipmaker’s highly-anticipated US trading debut. The company’s $26.5 billion US offering was closely watched as a test of demand for overseas offerings as well as for the longevity of the artificial intelligence rally. Bloomberg's Neil Campling reports. (Source: Bloomberg)
3 weeks agoSK Hynix's US listing became the biggest foreign stock offering in US history, surpassing Alibaba's $25 billion IPO more than a decade ago.
4 weeks agoSK Hynix Inc. shares declined in Seoul on Monday after the memory chipmaker’s highly anticipated US trading debut.
4 weeks agoSK hynix has achieved a milestone that extends far beyond the fortunes of a single company. By raising approximately $26.5 billion through its offering of American depositary receipts (ADRs) on Nasdaq, the semiconductor giant has completed the largest capital raising ever by a foreign company in the U.S. market. Even more remarkable was the pricing: The ADRs were offered at a premium to the closing price of the company's shares in Seoul, overturning the long-standing convention that large equity offerings require a discount to attract investors. The transaction is more than a financial success. It represents a powerful endorsement by global investors of SK hynix's leadership in the artificial intelligence (AI) era. Far from viewing the company as merely another memory chip manufacturer, the market has recognized it as a strategic technology leader whose future is closely tied to the explosive growth of AI. In securing a premium valuation from the world's deepest capital market, SK hynix has demonstrated that Korean tech companies can compete not only in manufacturing but also in earni
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