SK hynix prices $26.6 billion ADR offering at $149
SK hynix priced an American Depositary Receipt (ADR) offering at $149 per ADR for 177.9 million ADRs, equivalent to one-tenth of a Korean common share, raising $26.57 billion (about 40 trillion KRW). The offering was more than seven times oversubscribed in bookbuilding and was led by Bank of America, Citigroup, Goldman Sachs and J.P. Morgan. Conditional trading begins under ticker SKHYV with regular trading set to start on the 13th and completion scheduled for the 14th. The deal surpasses Alibaba's $25 billion foreign-company U.S. offering and ranks second among U.S. IPOs by size.
SK hynix will raise $26.57 billion through the ADR offering
Context
The company set the ADR price at $149 for 177.9 million ADRs. Conditional trading starts today and regular trading starts on the 13th. The offering could narrow SK hynix's share-price gap with Micron Technology.
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