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SK Hynix launches $28 billion Nasdaq depository receipt listing

2 min read

South Korea's SK Hynix is launching a roughly $28 billion depository receipt listing on Nasdaq by selling 17.79 million new ADRs, with ten ADRs representing one common share and pricing tied to its Seoul trading price. The final New York price will be set on Thursday, with trading due to begin on Friday after a global investor roadshow. The move comes as SK Hynix has outperformed major rivals with shares up about 273% this year amid surging AI demand, and follows a recent pledge to invest 100 trillion won to build new chip plants.

SK Hynix to raise about $28 billion through Nasdaq ADRs

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