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SK Hynix Prices US ADR Listing at $149 Per Share, Report Says
South Korean memory chip giant SK Hynix Inc. has priced its U.S. listing of American depositary receipts (ADRs) at $149 each, according to a report from Bloomberg.
Offering Details
The offering consists of 177.9 million ADRs, which represent a total of 17.79 million of the company's common shares, the report stated. Each ADR represents a one-tenth ownership stake in a common share of the Icheon-based semiconductor manufacturer.
Based on the reported price, the listing would raise approximately $26.5 billion. This move is aimed at significantly expanding the company's access to U.S. capital markets and increasing its visibility with American investors.
AdMarket Context
The U.S. listing provides investors with a more direct way to trade shares of one of the world's largest suppliers of memory chips. These components are critical for a wide range of technologies, from consumer electronics to the data centers powering the growth of artificial intelligence.
SK Hynix is a key global player in the market for DRAM and NAND flash memory. The company has experienced surging demand for its high-bandwidth memory (HBM) products, which are essential for training and running advanced AI models.