South Korea's SK Hynix launches $28 billion US listing to ride global AI wave
The sale could be the second-largest share offering ever as SK Hynix seeks deeper U.S. investor access and funds new chip plants.
- On Monday, South Korean chipmaker SK Hynix launched an about $28 billion U.S. share sale via American depositary receipts on the Nasdaq, drawing indications of interest for up to $7 billion from major investors.
- Proceeds from the listing will fund new chip factories in South Korea and advanced equipment purchases, including ASML extreme ultraviolet scanners, aligning with SK Hynix's 100 trillion won investment plan.
- Under the offering structure, 10 American depositary receipts will represent one common share, with the company considering a 0.5 percent fee payout to lead banks including Citigroup Inc and Goldman Sachs Group Inc.
- The Nasdaq listing, expected July 10, aims to narrow SK Hynix's valuation gap with Micron Technology Inc while providing direct access to U.S. capital pools and potential index inclusion.
- Experts caution that rapid semiconductor stock gains could signal a speculative bubble, given the memory industry's notorious boom-and-bust cycles, even as South Korea's $576 billion industrial strategy supports ongoing expansion.
66 Articles
66 Articles
The list of SK Hynix in New York, which walks to be the largest ever made by a foreign company in the USA, faces an unusual source of uncertainty for a great offer: the biggest oscillations of the global actions of chip makers in years. Exclusive material for subscribers. To have full access, access the link of the material and register.
The Second-Biggest Stock Sale in History Hits the Nasdaq Friday, and Chip Stocks Are Ripping
SK Hynix, the world’s second-largest memory-chip maker, is coming to the NASDAQ on Friday with the largest stock sale anyone has priced in years, and the chip complex is already pricing it in. CNBC’s Kristina Partsinevelos reported Monday that “SK Hynix plans to raise roughly $28 billion through an American depositary receipts, or ADR, on ... The Second-Biggest Stock Sale in History Hits the Nasdaq Friday, and Chip Stocks Are Ripping
Coverage Details
Bias Distribution
- 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
