Bloomberg: SK Hynix Proposes ADR Offering Price of $149 Per Share

SK Hynix, which is set to list its American Depositary Receipts (ADR) in the United States on July 10 (local time), has proposed an offering price of $149 per share, Bloomberg reported on July 9, citing multiple sources.
The $149 price is approximately 3.1% higher than the price of SK Hynix common stock converted to an ADR basis, based on the closing price of 2,186,000 won ($1,445) in the Korean stock market today.
According to a filing with the U.S. Securities and Exchange Commission (SEC), one ADR represents one-tenth of an SK Hynix common share.
However, the sources noted that the terms of the offering have not yet been finalized and remain subject to change.
If the offering price is finalized at $149, the total amount raised would reach approximately $26.5 billion (about 40 trillion won).
This is expected to surpass Alibaba's past initial public offering (IPO) of $25 billion, marking the largest U.S. stock market listing by a foreign company in history.
Yesterday, Bloomberg reported that the demand for SK Hynix ADRs exceeded the offering size by more than seven times during the book-building process.
Bloomberg stated that there was significant demand from global long-term investment funds, technology-focused funds, sovereign wealth funds, and global investors specializing in Asia.
※ Please note: This article was translated by AI and may contain errors.