SK Hynix officially launches US stock listing marketing process

Odaily Planet Daily News SK Hynix officially launched its marketing process for its US stock listing this Monday, aiming to capitalize on investors' sustained enthusiasm for the memory chip sector to advance its listing in the US. According to the filing documents, SK Hynix plans to offer approximately 17.79 million common shares represented by American Depositary Receipts. Based on the closing price in the Korean market last Friday, the size of this issuance is approximately 28 billion USD.

As a leading supplier of HBM chips, SK Hynix's listing in the US provides it with an efficient channel for fundraising. According to previously disclosed regulatory documents, SK Hynix expects its American Depositary Receipts to be officially listed on July 10 (this Friday). Based on the current proposed issuance size, this ADR offering is set to rank among the top three largest new stock issuances in history (specific amount depends on exchange rate) and is expected to rival the 29.4 billion USD IPO set by Saudi Aramco in 2019. (Jinshi)