SK Hynix prices Nasdaq ADR offering at USD 149, raises USD 26.5bn
SK Hynix raised USD 26.5 billion by pricing its American depositary receipt (ADR) offering at USD 149 per ADR ahead of its Nasdaq debut under the ticker SKHY.
TL;DR
- SK Hynix priced its ADR offering at USD 149 per ADR.
- The offering raised USD 26.5 billion.
- The company is set to debut on Nasdaq under the ticker SKHY.
- SK Hynix is a South Korean chipmaker.
SK Hynix is a semiconductor manufacturer based in South Korea. The company said the ADR offering was priced before its planned Nasdaq listing.
The listing uses American depositary receipts, or ADRs, which are certificates that let investors trade shares of a non-US company on a US stock exchange. SK Hynix will trade on Nasdaq under the ticker symbol SKHY.
Telecompaper described the transaction as a record foreign US listing. The source excerpt provided the offering size of USD 26.5 billion and the price of USD 149 per ADR, but did not state the number of ADRs sold or the listing date.
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