Jung Yeon-je | Afp | Getty Images
The company plans to issue 17.79 million new shares at a value of 45.45 trillion won ($29.65 billion).
SK Hynix said it expects to start trading on July 10, but added that the dates were tentative and subject to change.
The firm added that it anticipates that the ADR listing will expand its investor base, “ultimately allowing its true corporate value to be properly evaluated.”
“We expect to elevate our status as a global company by broadening our touchpoints in the United States, the epicenter of AI technological innovation,” SK Hynix said in the filing.
A host of large banks are managing the offering, including BofA Securities, Citigroup Global Markets, Goldman Sachs and JP Morgan Securities, according to Reuters.
This is a breaking story. More to follow.
About the Author
