SK Hynix officially launches marketing and promotion process for US stock listing
Odaily Odaily Planet Daily News SK Hynix officially launched the marketing and promotion process for its US stock listing this Monday, aiming to leverage investors' sustained enthusiasm for the memory chip sector to advance its listing and trading in the US. According to the filing documents, SK Hynix plans to issue approximately 17.79 million American Depositary Receipts (ADRs) representing common shares. Based on the closing price in the Korean market last Friday, the size of this offering is approximately $28 billion.
As a leading supplier of HBM chips, SK Hynix's US listing provides it with an efficient channel for fundraising. According to previously disclosed regulatory documents, SK Hynix expects its ADRs to officially begin trading on Friday, July 10. Based on the current proposed offering size, this ADR sale will rank among the top three largest new stock issuances in history (the specific amount depends on the exchange rate), and is expected to rival the $29.4 billion IPO set by Saudi Aramco in 2019. (Jin Shi)
