SK hynix, 7 month 10 day lists Nasdaq ADRs to raise 37 trillion–40 trillion won
SK hynix 7 month 10 day listed American depositary receipts (ADRs) on the U.S. Nasdaq to secure substantial funding. The company mentioned 37 trillion won, while SK Group Chairman Chey Tae-won mentioned 40 trillion won, with the goal of securing expansion funding through new share issuance and the offering price.
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SK hynix 7 month 10 day officially debuted in the global investor market by listing American depositary receipts (ADRs) on the U.S. Nasdaq. The listing drew attention for securing substantial funding and expanding its overseas investor base.
The company said the listing secured 37 trillion won. At the same event, SK Group Chairman Chey Tae-won described the amount secured as 40 trillion won.
SK hynix offered the shares at 149 dollars per share. The new share issuance will total up to 17,790,000 shares, equivalent to 177,900,000 shares on an ADR basis.
The listing ceremony (opening bell) was held at 7 at 10 in the morning local time, 9 at 7 at 10 in the afternoon Korea time, and 10 . Chairman Chey Tae-won and management, including Co-CEO Kwak No-jung, attended the event.
The company said it plans to use the funds raised for facility investments, including in the Yongin Semiconductor Cluster, the purchase of high-priced semiconductor equipment, and the pursuit of an artificial intelligence (AI) memory strategy.
Volatility was also observed in early trading on the domestic stock market that day. The opening price was 2,296,000 won, and at one point it exceeded 2,300,000 won. At 9 hours 50 minutes in the morning, it traded at 2,190,000 won, showing gains and losses.