Svmuu News: SK Hynix is moving forward with its plan to issue American Depositary Receipts (ADRs) in the U.S., a transaction that is expected to rank among the largest stock offerings in global history. According to details of the transaction negotiations, SK Hynix plans to pay underwriting banks a base underwriting fee of 0.5% of the total proceeds raised; Additionally, the company may pay the investment banks discretionary performance-based bonuses on top of the base fee.
SK Hynix previously disclosed that the proposed offering would not exceed 2.5% of the company’s total issued shares, but the final fundraising amount has not yet been finalized, and the total underwriting fees will vary depending on the size of the offering. (Bloomberg)