SK hynix to raise W40tr through Nasdaq ADR listing
The company also plans to invest 11.9 trillion won in extreme ultraviolet lithography equipment scheduled for installation by the end of next year.
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Summary
The company also plans to invest 11.9 trillion won in extreme ultraviolet (EUV) lithography equipment scheduled for installation by the end of next year. The offering consists of 177.9 million ADRs priced at $149 each, according to a regulatory filing. The listing is expected to become the largest-ever US equity debut by a foreign company, surpassing the $21.8 billion raised by Chinese technology giant Alibaba in its New York initial public offering.
Furthermore, SK hynix to raise W40tr through Nasdaq ADR listing. The fundraising target was revised down from the previously announced 43 trillion won. ADRs are negotiable certificates issued by US depositary banks that represent shares in foreign companies, allowing overseas firms to access US capital markets without directly listing their common stock on a US exchange.
In addition, Each ADR represents one-tenth of a Seoul-listed common share.
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The company also plans to invest 11.9 trillion won in extreme ultraviolet (EUV) lithography equipment scheduled for installation by the end of next year.
reliability low1/2 sourcesThe offering consists of 177.9 million ADRs priced at $149 each, according to a regulatory filing.
reliability low1/2 sourcesThe listing is expected to become the largest-ever US equity debut by a foreign company, surpassing the $21.8 billion raised by Chinese technology giant Alibaba in its New York initial public offering.
reliability low1/2 sourcesSK hynix to raise W40tr through Nasdaq ADR listing.
reliability low1/2 sourcesThe fundraising target was revised down from the previously announced 43 trillion won.
reliability low1/2 sourcesADRs are negotiable certificates issued by US depositary banks that represent shares in foreign companies, allowing overseas firms to access US capital markets without directly listing their common stock on a US exchange.
reliability low1/2 sourcesThe Nasdaq debut is also expected to narrow SK hynix's valuation gap with US rival Micron Technology Inc. Analysts note that Taiwan Semiconductor Manufacturing Co. has benefited from its US listing by attracting broader global investor demand and trading at a premium to its Taipei-listed shares. (Yonhap)
reliability low1/2 sourcesEach ADR represents one-tenth of a Seoul-listed common share.
reliability low1/2 sources
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