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SK Hynix Targets KRW45.5 Trillion in US Nasdaq Listing of ADRs

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SK Hynix (KRX:000660) plans to raise 45.5 trillion won via the issuance of 17.8 million new common shares as American depositary shares to list on the US Nasdaq.

The South Korean chipmaker said in a Wednesday filing with the Korea Exchange that proceeds will be used for expansion efforts.

Share certificates are scheduled to be delivered July 15, with the new shares expected to trade from July 29. The newly issued shares have a record date of Jan. 1 for dividends.

Shares of SK Hynix were up nearly 1% at market close.

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