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SK Hynix Launches U.S. IPO Of 177.9 Mln ADSs

SEOUL (dpa-AFX) - SK hynix Inc. (000660.KS), a semiconductor manufacturer, on Monday launched an initial public offering of 177.9 million American depositary shares in the U.S.The company said that each ADS represents one-tenth of a common share.The company has applied to list the ADSs on the Nasda…

SEOUL (dpa-AFX) - SK hynix Inc. (000660.KS), a semiconductor manufacturer, on Monday launched an initial public offering of 177.9 million American depositary shares in the U.S.

The company said that each ADS represents one-tenth of a common share.

The company has applied to list the ADSs on the Nasdaq Global Select Market under the ticker SKHY.

The company said that Situational Awareness Partners have indicated interest in purchasing up to an aggregate of $7 billion of ADSs in the offering.

The company's common shares last closed at KRW 2.425 million, equivalent to approximately $158.14 per ADS.

SK hynix Inc closed trading 3.38% lesser at KRW 2,343,000 on the Korean Stock Exchange.