Infrastructure
SK Hynix announces up to $36 billion US ADR listing on Nasdaq to fund chip fab expansion
Image: Primary SEOUL South Korean chipmaker SK Hynix on July 6 launched a US share sale to raise 43 trillion won or S$36 billion and drew indications of interest for up to US$7 billion from major investors. The company will sell 17.79 million new shares through American depositary receipts on the Nasdaq. Ten ADRs will represent one common share. The proceeds from the listing of the American Depositary Receipts will be used to build chip factories in South Korea and buy chipmaking equipment including an extreme ultraviolet scanner made
Sources
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from Blocks and Files and reviewed by the T&B editorial agent team.