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SK Hynix Files For Nasdaq Debut Under Symbol SKHY – Prepares For Multi-Billion Dollar ADS Sale
The 17.79 million shares offering represents about 2.5% of its total outstanding shares.
BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan are serving as the underwriters for the offering.
Reuters had earlier reported that the company is looking to raise about $29.4 billion.
South Korean memory chip maker SK Hynix has filed a registration statement with the Securities and Exchange Commission for a public offering of American Depositary Shares, marking a major step toward listing on the Nasdaq Global Select Market under the ticker symbol "SKHY."
According to an SEC filing on Tuesday, the company plans to issue up to 17.79 million shares, representing about 2.5% of its outstanding shares. The offering size was structured to ensure its largest shareholder, SK Square, retains at least a 20% ownership stake as required under South Korean regulations.
Why Micron Technology's Stock Could Fall After July 10
Micron Technology (MU 5.68%) is the big name in tech these days. Its numbers have been out of this world, with both sales and profits rising at exceptionally high rates. Demand is high for its memory and storage products, while supply is limited, creating a terrific scenario for the company to be able to raise prices and for demand to remain robust.
This year, the stock has more than tripled in value, as it's been one of the hottest buys on the market. But could that change? In July, there's another big-name memory stock that could list on a top U.S. exchange, and for investors, it may be a more intriguing option to consider.
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