Please agree to our privacy policy to enable news listening. (Central News Agency, Seoul, comprehensive foreign news report on the 24th) SK hynix, a manufacturer of memory chips for artificial intelligence (AI) data centers, said today that the company plans to issue American Depositary Receipts (ADRs) in the United States to raise 45.45 trillion won (approximately US$29 billion). Agence France-Presse reported that SK Hynix stated in a regulatory filing that the company decided to issue ADRs in the United States by issuing new shares and listed on Nasdaq on July 10. The report stated that SK Hynix plans to issue 17.79 million new shares. ADRs allow U.S. investors to trade shares of foreign companies on U.S. exchanges. SK Hynix said that the funds raised from the issuance of ADRs in the United States will be used for the company’s first wafer fab in South Korea’s Yongin (Yongin) semiconductor industry cluster, an advanced packaging plant in Cheongju, and wafer manufacturing equipment. SK hynix submitted an application to the U.S. Securities and Exchange Commission (SEC) in March this year to initiate the listing process. SK Hynix’s stock price listed in Seoul has soared by more than 300% this year, and the company’s market value exceeded the US$1 trillion mark for the first time in May. On the 22nd, SK Hynix’s market value once surpassed that of its competitor Samsung Electronics, becoming South Korea’s most valuable listed company. (Compiled by Liu Shuqin) 1150624 Support the Central News Agency’s choice to stand with the facts. Every donation you make is a small amount of support to protect press freedom. Download the Central News Agency’s “First-hand News” APP to get the latest news in real time. The text, pictures and audio and video of this website may not be reproduced, publicly broadcast or publicly transmitted and used without authorization.
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SK Hynix plans to issue ADR in the United States to raise US$29 billion | International | CNA
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