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#SK海力士登陆纳斯达克 South Korea's "stock king" SK Hynix to land on Nasdaq on Friday
More details have been disclosed about SK Hynix, a South Korean memory chip giant, regarding its U.S. listing plans. According to the latest regulatory filing, SK Hynix will launch its approximately $28 billion U.S. listing plan on Monday.
Riding the current AI boom, this issuance is set to become one of the largest new stock offerings in global history. The listing will be conducted in the form of American Depositary Receipts (ADRs), retaining its existing listing status on the Korea Exchange while opening a direct entry channel for U.S. investors. SK Hynix will issue 17.79 million new shares via depositary receipts on Nasdaq, placing it among the world's highest-valued technology companies. After landing on Nasdaq, SK Hynix is expected to be included in the Nasdaq 100 Index, attracting passive fund inflows and pushing its valuation closer to its U.S. peers.
Every 10 ADRs will represent one ordinary share of Hynix. The offering price range, referencing SK Hynix's trading price on the South Korean stock market, will be announced on Monday. The previously disclosed ADR reference price is 255.5k Korean won.
On Monday's morning session, SK Hynix turned from gains to losses. Since the start of the year, driven by surging demand for memory chips amid the AI frenzy, the stock has soared about 240%. As one of the biggest beneficiaries of the global AI boom, SK Hynix's stock performance has outperformed its main competitors, Samsung Electronics and Micron. The regulatory filing also shows that the final issuance price for SK Hynix's New York listing will be set on Thursday, with the stock officially beginning trading this Friday. The company's management will conduct global investor roadshows this week.
In terms of fundraising scale, this issuance is expected to be the second-largest new share offering in global history, second only to SpaceX's record-breaking $85.7 billion IPO last month, and exceeding Saudi Aramco's $25.6 billion IPO in 2019. SK Hynix is a core supplier of high bandwidth memory (HBM) used in AI systems, with clients including NVIDIA, Google, and others. The company announced last week that it would invest 100 trillion Korean won to build multiple chip factories, including a NAND flash factory. Although SK Hynix's fundraising scale is far smaller than SpaceX's, its U.S. listing performance is seen as the next key indicator of market trends, making it the focus of global capital markets this week. Recently, amid multiple bearish factors, including news that Meta plans to lease or sell computing power, the U.S. chip sector has faced notable selling pressure. At this critical juncture, SK Hynix's listing performance on the U.S. stock market may provide important clues for investors to assess the direction of the AI bull market.
South Korean memory chip giant SK Hynix has disclosed further details of its U.S. listing plan. According to the latest regulatory filings, SK Hynix will launch an approximately $28 billion U.S. listing plan on Monday.
Riding the current artificial intelligence (AI) boom, this issuance is set to become one of the largest new stock offerings in global history. The listing will be conducted in the form of American Depositary Receipts (ADRs), retaining its existing listing status on the Korea Exchange while opening a direct entry channel for U.S. investors. SK Hynix will issue 17.79 million new shares via depositary receipts on Nasdaq, which will place it among the world's highest-valued tech companies. After listing on Nasdaq, SK Hynix is expected to be included in the Nasdaq 100 Index, thereby attracting passive capital inflows into the stock and pushing its valuation closer to its U.S. peers.
Every 10 ADRs will represent one ordinary share of Hynix. The offering price range, referencing SK Hynix's trading price on the Korean stock market, will be announced on Monday. The previously announced ADR reference price was 255.5k Korean won.
In early Monday trading, SK Hynix turned from gains to losses. The stock has surged about 240% this year, driven by surging demand for memory chips amid the AI boom. As one of the biggest beneficiaries of the global AI boom, SK Hynix's stock performance has outperformed its main rivals Samsung Electronics and Micron Technology. Regulatory filings also show that the final issuance price for SK Hynix's New York listing will be finalized on Thursday, and the stock will officially begin trading on Friday this week. Company management will conduct global investor roadshows this week.
In terms of fundraising scale, this issuance is expected to rank as the second-largest new stock offering in global history, trailing only SpaceX's record-breaking $85.7 billion IPO last month, while surpassing Saudi Aramco's $25.6 billion IPO in 2019. SK Hynix is a core supplier of high-bandwidth memory (HBM) used in AI systems, with clients including Nvidia, Google, and others. The company announced last week that it would invest 100 trillion Korean won to build multiple new chip factories, including one NAND flash memory factory. Although SK Hynix's fundraising scale is far smaller than SpaceX's, its U.S. listing performance is seen as the next important bellwether for market trends, making it a focus of global capital markets this week. Recently, amid multiple negative factors including news that Meta plans to lease and sell computing power, the U.S. chip sector has faced notable selling pressure. At this critical juncture, SK Hynix's listing performance in the U.S. stock market could provide important clues for investors on where the AI bull market is headed.