SK HYNIX TO LAUNCH $28 BILLION U.S. LISTING – The South Korean chipmaker will sell 17.79 million new shares in the depository receipt listing on the Nasdaq
South Korean chipmaker SK Hynix will launch its about $28 billion U.S. listing today, according to its regulatory filings, in one of the world’s largest new share sales as it capitalises on the global AI boom.
The company will sell 17.79 million new shares in the depository receipt listing on the Nasdaq, making it one of the world’s most valuable tech firms.
Ten ADRs ( American Depositary Receipts) will represent one common share and the stock will be sold in a price range due to be revealed on Monday, based on SK Hynix’s Seoul trading price.
SK Hynix has been among the world’s largest beneficiaries of the AI boom as it outperformed its major rivals Samsung Electronics and Micron.
The final price of the New York listing is due to be set on Thursday June 9th, ahead of the stock starting trade on Friday June 10th, regulatory filings showed. The company’s management will meet global investors on a roadshow this week.
