SK Hynix officially launches the marketing and promotion process for listing on the U.S. stock market.

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Shenchao TechFlow news: On July 06, SK Hynix officially kicked off this Monday its marketing and roadshow process for a U.S. stock listing, aiming to ride on investors’ sustained high enthusiasm for the memory chip sector and move forward with trading on U.S. exchanges. According to the filing documents, SK Hynix plans to offer American depositary receipts corresponding to about 17.79 million shares of common stock. Based on the Korean market closing price from last Friday, the offering size is about $28 billion. As a leading supplier of HBM chips, SK Hynix’s U.S. listing this time opens up an efficient financing channel for it.

According to previously disclosed regulatory documents, SK Hynix expects its American depositary receipts to officially begin trading on July 10 (this Friday). Based on the current proposed issuance size, this ADR offering will rank among the top three largest new stock issuances in history (the exact amount depends on the exchange rate). It is expected to be comparable to the $29.4 billion IPO carried out by Saudi Aramco in 2019. (Jin Shi)

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