SK Hynix has tentatively set the date for its American Depositary Receipt (ADR) listing on the Nasdaq for the 10th of next month.
In a regulatory filing today (June 24), SK Hynix announced its plan to issue Depositary Receipts (DR) worth up to 45.45 trillion won to facilitate its listing on the Nasdaq stock exchange.
The company explained that the funds raised will be used for construction and facility investments, including the first fab at the Yongin Semiconductor Cluster, the P&T7 advanced packaging fab in Cheongju, and machinery.
The exact amount will be determined following a book-building process to finalize the total offering size of the ADRs.
Previously, SK Hynix announced on March 25 that it had submitted a registration statement for the ADR offering to the U.S. Securities and Exchange Commission (SEC), officially initiating the process for its Nasdaq listing.
(Photo: Yonhap News)