Bloomberg: SK Hynix Sets ADR Offering Price at $149 Per Share

SK Hynix has set the price for its American Depositary Receipt (ADR) offering at $149 per share, Bloomberg reported on July 9 (local time), citing sources familiar with the matter.

Previously, Bloomberg reported that SK Hynix had set a price guidance of $149 per share for the ADR offering.

The latest report confirms that this price has been finalized.

SK Hynix did not respond to a request for comment.

The offering price is scheduled to be officially announced at 8:00 a.m. today (July 10), Korea Standard Time.

The $149 price is approximately 3.1% higher than the closing price of SK Hynix common stock on the Korean stock market today (2.186 million won, or $1,445), when converted to an ADR basis.

According to a filing with the U.S. Securities and Exchange Commission (SEC), SK Hynix offered 177.9 million ADRs.

Under this structure, one ADR represents one-tenth of an SK Hynix common share.

With the offering price set at $149, the total amount raised is expected to reach approximately $26.5 billion (about 40 trillion won).

This is expected to be the largest U.S. stock market listing by a foreign company in history, surpassing Alibaba's $25 billion initial public offering (IPO).

Yesterday, Bloomberg reported that the demand for SK Hynix ADRs exceeded the offering size by more than seven times during the book-building process.

Total demand reached $200 billion (about 301 trillion won), and it was reported that about half of the issued shares were allocated to the top 10 accounts.

Bloomberg also reported that the top 25 accounts secured approximately two-thirds of the total offering.
※ Please note: This article was translated by AI and may contain errors.