South Korea's SK Hynix says to raise $29 bln in ADR listing
The chipmaker plans to use all proceeds for semiconductor projects and global expansion, with trading expected to start on Nasdaq on July 10, officials said.
- The chipmaker plans to raise $29.4 billion through an American depositary receipt offering, with securities set to debut on the Nasdaq Global Select Market Composite on July 10.
- Approved by the board on Wednesday, the issuance includes each ADR representing 0.1 of a common share, aimed at funding capital expenditures and expanding the global investor base.
- Serving as lead underwriters, Citi, Goldman Sachs, and Morgan join The Korea Securities Depository, which will act as custodian with Citibank as the depositary bank.
- Following regulatory filings with the Securities and Exchange Commission, the company will conduct roadshows across the United States, Europe, and Asia to engage institutional investors.
- Proceeds will fund capital expenditures including a semiconductor cluster in Yongin, Gyeonggi Province, and a facility in Cheongju, North Chungcheong Province dedicated to advanced HBM packaging.
55 Articles
55 Articles
SK Hynix eyes $29B US stock offering
SK Hynix is planning a $29 billion US stock offering, a bet on continued AI semiconductor demand. The South Korean chipmaker has outperformed rivals, including compatriot Samsung, to control much of the global memory-chip market; fellow memory giant Micron recently posted a 15-fold profit surge. Others are also trying to get in on the chip boom: OpenAI said it had begun testing its own processors, and SpaceX is building a huge chip fabrication f…
South Korea's Kospi jumps as SK Hynix stock surges on blockbuster Nasdaq listing plan
South Korea's stock market have been volatile this week as investors reassessed AI-related semiconductor shares.Jung Yeon-je/AFP/Getty ImagesKospi surges over 5% as Samsung and SK Hynix lead another sharp rally in chip stocks.SK Hynix jumped nearly 10% amid $29.4 billion US listing plans.The chip selloff was a correction, not the end of the AI rally, an analyst says.South Korea's benchmark Kospi index surged over 5% in early trading on Thursday,…
South Korean chip company SK Hynix aims to raise tens of billions by also obtaining a listing on Wall Street. The company is already listed in South Korea, where its stock rose by a staggering 850 percent in twelve months. The company intends to capitalize on this success by making its US stock market debut.
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