SK Hynix is targeting a July 10 debut of its American depositary receipts on Nasdaq, a move the company expects will broaden its global investor base and help finance a new wave of semiconductor manufacturing and packaging investments.
The South Korean memory-chip maker said on June 24 that its board approved the ADR offering and authorized the filing of registration documents with regulators in both South Korea and the United States. The company plans to submit a registration statement to the U.S. Securities and Exchange Commission as part of the listing process.
Under the preliminary timetable, the registration statement is expected to become effective on July 6, allowing SK Hynix to begin marketing the offering to institutional investors. The company plans to conduct a global roadshow across North America, Europe and Asia before determining the final offering price.
Book-building is scheduled to begin on July 6, with pricing expected on July 9 U.S. time. SK Hynix also aims to sign underwriting agreements on the same day.
If the schedule proceeds as planned, the ADRs will begin trading on Nasdaq on July 10, while settlement of the offering is expected on July 14.
The timeline remains subject to regulatory review. The company said SEC examination of the registration documents is still underway, and the offering schedule could change depending on approvals from regulators in both countries.
To support the listing, SK Hynix plans to issue up to 17.79 million new shares, equivalent to roughly 2.5% of its outstanding share count. The final number of shares will depend on market conditions and investor demand.
Proceeds from the offering are expected to fund capital expenditures, including construction of the first fabrication plant at the Yongin semiconductor cluster, advanced packaging facilities in Cheongju, and additional manufacturing equipment investments.
SK Hynix first disclosed on March 25 that it had filed an ADR registration application with the SEC, formally launching the Nasdaq listing process.
The company said it expects the U.S. listing to enhance its international profile and support a reassessment of its valuation as demand for advanced memory products used in artificial intelligence systems continues to grow. It also plans to provide more detailed shareholder-return initiatives later this year as part of broader efforts to strengthen communication with investors.
