SK Hynix overtakes Samsung Electronics to become the top KOSPI stock... a change in leadership after 25 years [Photo=Yonhap News]
SK Hynix is moving forward with plans to list its American Depositary Receipts (ADR) on the Nasdaq, targeting a launch date of July 10.
On June 24, SK Hynix announced that it would disclose details regarding the ADR listing following a board resolution and plans to submit a securities registration statement to the Korea Exchange. The company also intends to file a registration statement with the U.S. Securities and Exchange Commission (SEC) in line with the local market opening.
The ADR is set to debut on the Nasdaq on July 10. According to the provisional schedule outlined in the securities registration statement, the registration will take effect on July 6, initiating the formal public offering process alongside the submission of the investment prospectus.
SK Hynix plans to begin the demand forecast for institutional investors on July 6, which will inform the final offering price set for July 10 (July 9 U.S. time). The company aims to finalize underwriting agreements on the same day. During this period, it will conduct a roadshow targeting global institutional investors across the U.S., Europe, and Asia.
Once all preparations are complete, the ADR will officially list on the Nasdaq and commence trading on July 10 (U.S. time). The expected date for payment of the offering proceeds is July 14.
However, the SEC's review process for the listing is still ongoing. The disclosed schedule is provisional and may change based on the approval timelines of regulatory bodies in both Korea and the U.S.
SK Hynix noted that the effectiveness of the securities registration statement in Korea and the U.S. will indicate the completion of the SEC review. The confirmed ADR listing date will be the next business day after the issuance conditions are finalized.
To facilitate this listing, SK Hynix plans to issue new shares amounting to a maximum of 17.79 million, representing approximately 2.5% of its total outstanding shares. Based on the previous day's closing price, this issuance could be valued at around 45.45 trillion won. However, the company clarified that the exact number of shares to be issued will depend on market conditions and the results of the demand forecast, and is not yet finalized.
Additionally, SK Hynix intends to use the funds raised from this listing for construction and facility investments related to its first-phase semiconductor cluster in Yongin, as well as for the Cheongju P&T7 advanced packaging fab and machinery.
* This article has been translated by AI.
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