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SK Hynix has filed to raise up to $29.4 billion through an American depositary receipt (ADR) listing on the Nasdaq, with trading expected to begin July 10. The offering of 17.79 million new shares would be the largest ADR sale on record, surpassing Alibaba's 2014 debut Source: CNBC; The Next Web. The company will use all proceeds to fund capacity expansion, including the first fab in the Yongin Semiconductor Cluster, an advanced packaging plant in Cheongju, and EUV lithography equipment Source: Tom's Hardware.
SK Hynix said the ADR listing will "broaden its investor base" and allow "its true corporate value to be properly evaluated" Source: CNBC. The company aims to elevate its status as a global player in AI, being the dominant supplier of high-bandwidth memory (HBM) to Nvidia Source: The Next Web. Underwriters include BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan Source: Infobae.
Separately, South Korea's president Lee Jae-myung will announce three economic megaprojects on June 29, including a second semiconductor cluster outside the capital area Source: Infobae. Expectations are high for investments from Samsung Electronics and SK Hynix. According to Maeil Business Newspaper, Samsung may invest over $645 billion in the next decade Source: Infobae. The government is in "final stage" talks for the new cluster Source: Infobae.
SK Hynix recently surpassed Samsung Electronics as South Korea's most valuable listed company, ending Samsung's 26-year reign Source: Tom's Hardware; The Next Web. The company's shares have surged on AI demand, and it holds about 57% of the HBM market Source: Tom's Hardware.
“SK Hynix said the ADR listing would broaden its investor base and allow 'its true corporate value to be properly evaluated.'”
“SK hynix earmarked the proceeds for its first fab in the Yongin cluster, an advanced packaging plant in Cheongju, and chipmaking equipment that includes EUV scanners.”
“At the top of the indicated range, the offering would be the largest ADR sale on record, ahead of the $21.8bn Alibaba raised in its 2014 New York debut.”
“La oficina presidencial confirmó este jueves por la noche que el mandatario del país, Lee Jae-myung, presidirá el 29 de junio la presentación pública de los tres megaproyectos para 'el gran salto' de Corea del Sur.”
“SK Hynix, South Korea's most valuable company, plans to raise around $29 billion on the Nasdaq by issuing American depositary receipts (ADRs).”
“Just two days ago, SK hynix passed Samsung Electronics to become South Korea's most valuable listed company, ending a 26-year run at the top.”
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