SK Hynix's U.S. ADR reference price set at 242,500 won
SK Hynix ADR reference price finalized at 242,500 won, preparing for U.S. listing Check the schedule for securing investment funds for Yongin, Cheongju, and EUV investments and starting Nasdaq trading
SK Hynix announced in a filing on the 6th that it has set the reference price for its American Depositary Receipt (ADR) at 242,500 won per share. This is about onetenth of the price of its domestically listed common stock, and the total offering amount based on issuance has been adjusted to 43.14075 trillion won.
The company plans to issue 10 ADRs for every one share of domestic common stock, which, reflecting the recent exchange rate, is calculated at about $158.15. This issuance will target up to 17.79 million newly issued shares, and the final number of shares and offering price will be determined based on the results of the demand forecast.
SK Hynix began briefings for overseas institutional investors starting today, and the ADR offering price is expected to be finalized on the 10th, Korean time. Nasdaq listing and trading are scheduled for the same day, while subscriptions and payment are set for the 14th, and the listing of the new shares in Korea is scheduled for the 29th.
The funds raised will be used entirely for facility investment. They will be allocated to building the first fab of the Yongin semiconductor cluster, constructing the P&T7 advanced packaging fab in Cheongju, and introducing EUV lithography equipment.