SK Hynix to Pursue U.S. ADR Listing on the 10th of Next Month

SK Hynix is pushing ahead with a schedule to list ADRs on the U.S. Nasdaq on the 10th of next month. The company disclosed on the 24th that it plans to raise up to KRW 45.4535 trillion through this listing. The new shares to be issued are expected to total up to 17.79 million shares, or about 2.5% of all outstanding shares. The final issuance size and amount raised may change depending on the results of the bookbuilding process, and the listing timing may also shift depending on the approval schedule of regulators in Korea and the United States. The funds raised will be used entirely to expand semiconductor production capacity. SK Hynix said it plans to invest the funds in facility investments such as construction of Phase 1 fabs in the Yongin semiconductor cluster, construction and equipment investment for an advanced packaging fab in Cheongju, and the introduction of EUV lithography equipment.