SK Hynix is poised to raise its largest ever ADR (Auction Receipt) of $2.9 billion.
SK Hynix is preparing to issue an ADR (Advanced Transaction Receipt) worth up to $2.9 billion to invest in expanding its semiconductor and AI chip manufacturing facilities.
June 24, 2569 at 15.40:XNUMX a.m., Reuters reported that SK Hynix, the world's second-largest memory chip manufacturer, has revealed plans to raise up to 45.45 trillion won, or approximately US$29.43 billion, through the issuance of American Depositary Receipts (ADRs). To list for trading on the Nasdaq stock exchange in the United States, with the goal of expanding its investor base and increasing the production capacity of chips used in artificial intelligence (AI) systems.
According to documents filed with the stock exchange, the company plans to issue 17.79 million new shares to support the ADR issuance and aims to list on the Nasdaq market on July 10. However, the final fundraising value may change depending on the results of the bookbuilding process.
SK Hynix specify that The funds raised will be used to construct a new chip manufacturing plant in Yongin, an advanced chip packaging and assembly plant in Cheongju, and to purchase key machinery for semiconductor production, such as an advanced Extreme Ultraviolet Scanner (EUV) for printing circuit patterns.
Regarding the sales presentation structure: The company has designated 10 ADR units as equivalent to 1 share of common stock, with leading financial institutions including Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase acting as underwriters.
If the offering successfully raises the full target amount, this will become the largest ADR (Auction Receipt) in history, surpassing the previous record set by Alibaba Group, which raised $21,800 billion during its IPO on the New York Stock Exchange in 2557.
SK Hynix, a major manufacturer of high-speed memory chips (HBMs) for AI systems serving large clients like NVIDIA and Google, has benefited immensely from the global wave of AI investment. This has resulted in a continuous surge in the company's value, recently surpassing Samsung Electronics to become South Korea's most valuable company by market capitalization for the first time earlier this week.
refer : www.reuters.com
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