Svmuu News: SK Hynix officially launched its roadshow for its U.S. IPO this Monday, aiming to capitalize on investors’ continued enthusiasm for the memory chip sector to advance its listing in the U.S. According to the filing, SK Hynix plans to offer American Depositary Receipts (ADRs) representing approximately 17.79 million shares of common stock. Based on Friday’s closing price on the South Korean market, the offering is valued at approximately $28 billion.
As a leading supplier of HBM chips, this U.S. listing opens up an efficient financing channel for SK Hynix. According to previously disclosed regulatory filings, SK Hynix expects its American Depositary Receipts (ADRs) to begin trading on July 10 (this Friday). Based on the current proposed offering size, this ADR offering will rank among the top three largest initial public offerings in history (the exact amount depends on exchange rates) and is expected to rival the $29.4 billion IPO set by Saudi Aramco in 2019. (Jin Shi)