South Korean Media: SK Hynix Plans to Advance Issuance of American Depositary Receipts, with Fundraising Scale Potentially Reaching Up to US$26 Billion
3 day ago / Read about 0 minute
Author:小编   

On June 24, according to the Korea Economic Daily, SK Hynix plans to submit documents to South Korean financial regulatory authorities to advance the issuance of its American Depositary Receipts (ADRs), marking a crucial step for the company's entry into the U.S. market. Previously, SK Hynix's stock price experienced a historic surge, helping the South Korean stock market become one of the best-performing markets globally. Earlier reports indicated that the ADR issuance could raise up to US$10 billion, but the final amount remains undetermined. Based on SK Hynix's increased market value, industry estimates suggest that the issuance could reach KRW 40 trillion (approximately US$26 billion). SK Hynix intends to issue shares in South Korea, which will be deposited with the Korea Securities Depository as the underlying securities for the ADRs. The review by South Korean regulatory authorities is expected to be completed by July 3, with the market anticipating that trading could commence as early as next month.