SK Hynix Lists ADRs on Nasdaq

MT Newswires Live

07/10

SK Hynix (SKHY, SKHYV) said Friday it has listed its American depositary receipts on the Nasdaq stock market.

The company said in a regulatory filing Friday that it is offering 177.9 million American depositary shares at $149 apiece, potentially raising total proceeds of $26.51 billion.

The offering is expected to close on Tuesday, the company said.

The company said it intends to use proceeds raised from the offering to fund construction of production facilities in Korea and the acquisition of EUV scanners.

With this listing, SK Hynix said it plans to broaden its global investor base in the US capital markets.

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