SK Hynix officially launches the marketing and promotion process for its US stock listing.

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BlockBeats news, July 6 — SK Hynix officially launched its U.S. stock listing marketing and roadshow process this Monday, aiming to ride on investors’ continuing enthusiasm for the memory chip sector and advance trading on the U.S. stock market.

According to the filing documents, SK Hynix plans to issue U.S. depositary receipts corresponding to approximately 17.79 million shares of common stock. Based on the closing price in the Korean market last Friday, the size of this offering is about $28 billion. As a leading supplier of HBM chips, SK Hynix’s listing in the U.S. this time opens up an efficient financing channel for the company.

According to previously disclosed regulatory documents, SK Hynix expects its U.S. depositary receipts to begin trading on July 10 (this Friday). Based on the currently planned offering size, this ADR offering will rank among the top three largest new IPO offerings in history (the specific amount depends on exchange rates), and is expected to be comparable to Saudi Aramco’s 2019 IPO size of $29.4 billion.

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