SK hynix Inc. announced plans to raise up to 45.45 trillion won through a stock offering to list its American depositary receipts on the Nasdaq.
On June 24, SK hynix said in a regulatory filing that new shares will be issued at 2.55 million won each and listed on July 29. The ADRs will be priced at 255,500 won apiece and listed on the Nasdaq on July 10.
The final size of the offering will be set after bookbuilding. Proceeds will fund construction of a new chip factory and an advanced packaging fab in South Korea, plus purchases of equipment including extreme ultraviolet scanners.
The company announced its U.S. listing plan in March to improve access to global investors amid its artificial intelligence push. Shares closed at 2.58 million won on the Seoul bourse, up 0.98 percent.
