Memory Giant SK Hynix Prices ADR at 255,500 Won per Share, Seeks July 10 Nasdaq Debut, Post-Market Shares Surge 5.5%
TradingKey - During Asian trading hours on June 24, SK Hynix officially submitted a securities registration statement to South Korea's Financial Supervisory Service, initiating the listing process for its American Depositary Receipts (ADRs) on Nasdaq. SK Hynix plans to raise up to 45 trillion won (approximately $29 billion) through the ADRs, with the proceeds destined for domestic capacity expansion and the procurement of key equipment in South Korea.
According to the latest disclosures, the ADR is priced at 255,500 won (approximately $166) per share, and the company seeks to officially begin trading on Nasdaq on July 10, bringing greater clarity than the market's previous expectations of mid-to-late July. Boosted by this news, SK Hynix's Korean-listed shares rose 5.5% in after-hours trading today, signaling a significant recovery in market sentiment.
SK Hynix's shares rose nearly 6% to 2.703 million won in early trading today before paring gains and turning negative. In the afternoon, spurred by the positive news of an "accelerated US ADR issuance," the stock staged a V-shaped recovery to close at 2.58 million won, up 0.98%, with its total market capitalization reaching approximately 1,838.77 trillion won.
[Source: TradingView]
The stock has surged approximately 300% year-to-date, with its intraday market cap briefly surpassing 2,082 trillion won on June 22 to overtake Samsung Electronics, breaking Samsung's 26-year streak as South Korea's most valuable company.
SK Hynix will expand its semiconductor production bases within South Korea. The fourth fab in the Yongin Semiconductor Cluster, originally scheduled for completion in 2044, is now being discussed for acceleration to 2034. SK Group Chairman Chey Tae-won stated that the company plans to triple its overall wafer capacity from current levels by 2034.
On the equipment front, SK Hynix has procured approximately 11.9 trillion won (about $7.9 billion) worth of EUV lithography equipment from ASML for the research, development, and mass production of next-generation memory products.
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