#SK海力士登陆纳斯达克 South Korea's "stock king" SK Hynix to list on Nasdaq on Friday
South Korean memory chip giant SK Hynix has disclosed further details of its U.S. listing plan. According to the latest regulatory filings, SK Hynix will launch an approximately $28 billion U.S. listing plan on Monday.
Riding the current artificial intelligence (AI) boom, this issuance is set to become one of the largest new stock offerings in global history. The listing will be conducted in the form of American Depositary Receipts (ADRs), retaining its existing listing status on the Korea Exchange while opening a direct entry channel for U.S. investors. SK Hynix will issue 17.79 million new shares via depositary receipts on Nasdaq, which will place it among the world's highest-valued tech companies. After listing on Nasdaq, SK Hynix is expected to be included in the Nasdaq 100 Index, thereby attracting passive capital inflows into the stock and pushing its valuation closer to its U.S. peers.
Every 10 ADRs will represent one ordinary share of Hynix. The offering price range, referencing SK Hynix's trading price on the Korean stock market, will be announced on Monday. The previously announced ADR reference price was 255.5k Korean won.
In early Monday trading, SK Hynix turned from gains to losses. The stock has surged about 240% this year, driven by surging demand for memory chips amid the AI boom. As one of the biggest beneficiaries of the global AI boom, SK Hynix's stock performance has outperformed its main rivals Samsung Electronics and Micron Technology. Regulatory filings also show that the final issuance price for SK Hynix's New York listing will be finalized on Thursday, and the stock will officially begin trading on Friday this week. Company management will conduct global investor roadshows this week.
In terms of fundraising scale, this issuance is expected to rank as the second-largest new stock offering in global history, trailing only SpaceX's record-breaking $85.7 billion IPO last month, while surpassing Saudi Aramco's $25.6 billion IPO in 2019. SK Hynix is a core supplier of high-bandwidth memory (HBM) used in AI systems, with clients including Nvidia, Google, and others. The company announced last week that it would invest 100 trillion Korean won to build multiple new chip factories, including one NAND flash memory factory. Although SK Hynix's fundraising scale is far smaller than SpaceX's, its U.S. listing performance is seen as the next important bellwether for market trends, making it a focus of global capital markets this week. Recently, amid multiple negative factors including news that Meta plans to lease and sell computing power, the U.S. chip sector has faced notable selling pressure. At this critical juncture, SK Hynix's listing performance in the U.S. stock market could provide important clues for investors on where the AI bull market is headed.
South Korean memory chip giant SK Hynix has disclosed further details of its U.S. listing plan. According to the latest regulatory filings, SK Hynix will launch an approximately $28 billion U.S. listing plan on Monday.
Riding the current artificial intelligence (AI) boom, this issuance is set to become one of the largest new stock offerings in global history. The listing will be conducted in the form of American Depositary Receipts (ADRs), retaining its existing listing status on the Korea Exchange while opening a direct entry channel for U.S. investors. SK Hynix will issue 17.79 million new shares via depositary receipts on Nasdaq, which will place it among the world's highest-valued tech companies. After listing on Nasdaq, SK Hynix is expected to be included in the Nasdaq 100 Index, thereby attracting passive capital inflows into the stock and pushing its valuation closer to its U.S. peers.
Every 10 ADRs will represent one ordinary share of Hynix. The offering price range, referencing SK Hynix's trading price on the Korean stock market, will be announced on Monday. The previously announced ADR reference price was 255.5k Korean won.
In early Monday trading, SK Hynix turned from gains to losses. The stock has surged about 240% this year, driven by surging demand for memory chips amid the AI boom. As one of the biggest beneficiaries of the global AI boom, SK Hynix's stock performance has outperformed its main rivals Samsung Electronics and Micron Technology. Regulatory filings also show that the final issuance price for SK Hynix's New York listing will be finalized on Thursday, and the stock will officially begin trading on Friday this week. Company management will conduct global investor roadshows this week.
In terms of fundraising scale, this issuance is expected to rank as the second-largest new stock offering in global history, trailing only SpaceX's record-breaking $85.7 billion IPO last month, while surpassing Saudi Aramco's $25.6 billion IPO in 2019. SK Hynix is a core supplier of high-bandwidth memory (HBM) used in AI systems, with clients including Nvidia, Google, and others. The company announced last week that it would invest 100 trillion Korean won to build multiple new chip factories, including one NAND flash memory factory. Although SK Hynix's fundraising scale is far smaller than SpaceX's, its U.S. listing performance is seen as the next important bellwether for market trends, making it a focus of global capital markets this week. Recently, amid multiple negative factors including news that Meta plans to lease and sell computing power, the U.S. chip sector has faced notable selling pressure. At this critical juncture, SK Hynix's listing performance in the U.S. stock market could provide important clues for investors on where the AI bull market is headed.
