SK Hynix is planning a $29 billion Nasdaq listing that could break the all-time ADR record |
SK Hynix is planning a $29 billion Nasdaq listing that could break the all-time ADR record
The South Korean memory chipmaker plans to issue 17.79 million new shares, with trading expected to begin July 10
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SK Hynix filed with the SEC on Wednesday to raise approximately $29.65 billion through an American depositary receipt listing on the Nasdaq $NDAQ, in what would rank among the largest share sales in history.
Trading is expected to begin July 10, the company said, with up to 17.79 million new shares to be issued at a value of 45.45 trillion won. Each common share will be represented by ten ADRs, and Tuesday's closing price of 2.555 million........