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SK Hynix to Sell Up to 2.5 Percent of Shares via $29 Billion U.S. ADR Offering
SK Hynix will begin book building July 6 for an American depositary receipt offering valued at $29 billion. Shares are set to debut on Nasdaq on July 10.
Jul 5, 9:15 AM·1m read2 sources
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SK Hynix plans to list shares in the United States through an American depositary receipt offering valued at $29 billion. The transaction would rank as the largest first-time share sale by a foreign company if completed. The company could issue up to 2.5 percent of its outstanding shares.
Book building for the ADR will begin on July 6. The final offer price will be determined on July 9. The shares are scheduled to debut on Nasdaq on July 10. SK Hynix is considering paying banks about 0.5 percent of the proceeds.
The ADR listing is intended to raise cash and serve purposes beyond immediate fundraising.
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CorroborationLimited · 2 sources
