SK hynix ADR offering with 7times subscription, Nasdaq debut
Demand forecasting for SK hynix’s American Depositary Receipts (ADRs) attracted subscriptions exceeding the offering size by 7times. The ADRs will begin when-issued trading on Nasdaq under ‘SKHYV’ on 7 month10 day, with regular trading starting on 7 month13 day. If the offering price is set at around 207 ten thousand won, the funds raised are estimated at 6000 hundred million dollars (approximately 245 trillion37 won).
Demand forecasting for SK hynix’s American Depositary Receipts (ADRs) attracted subscriptions exceeding the offering size by 7times. As a result, the amount of funds flowing in from overseas could increase substantially.
Orders exceeding the offering size by 7times were received during demand forecasting. Local institutional investors are known to have participated in large numbers.
The ADRs will be listed on the Nasdaq Global Select Market under ‘SKHYV.’ When-issued trading will begin on 7 month10 day (local time), and regular trading will transition from 7 month13 day.
The offering price will be determined in the afternoon of 7 month9 day, New York time. If it is set at around the previous day's closing price of 207 ten thousand won6000 per share, the amount raised is estimated at 245 hundred million dollars, approximately 37 trillion won.
Some local investors also actively participated in the offering, citing expanding demand for AI. The final amount raised and allocation details will be confirmed after the offering price is set.
This ADR listing will involve trading in the form of U.S. depositary receipts and will be traded in the U.S. market separately from SK hynix common shares listed and traded on the Korean stock market.
Investors need to check the trading volume and price fluctuations on the date the offering price is set and on the first days of temporary and regular trading. The amount raised and the shares in circulation in the U.S. market will vary depending on the offering price and the actual trading price.