SK Hynix Officially Launches US Stock Listing Marketing Process
BlockBeats News, July 6th, SK Hynix officially kicked off its US stock market listing marketing process this Monday, aiming to leverage the continuous enthusiasm of investors for the storage chip sector to advance its US listing.
According to the disclosure document, SK Hynix plans to issue approximately 17.79 million shares of common stock corresponding to American Depositary Receipts (ADRs). 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 listing in the US has opened up an efficient financing channel for the company.
According to previously disclosed regulatory filings, SK Hynix expects its ADRs to commence trading on July 10th (this Friday). Based on the current planned offering size, this ADR sale will rank among the top three largest IPOs in history (the specific amount depends on the exchange rate) and is expected to rival Saudi Aramco's $29.4 billion IPO in 2019.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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