Asia
SK Hynix Eyes to Raise KRW45.5 Trillion Through Nasdaq Listing; Shares Decline 9%
SK Hynix (KRX:000660) plans to raise 45.5 trillion won through the issuance of 17.8 million new depositary receipts (DRs) on the Nasdaq Global Select Market on July 10, according to a Friday filing with the Korea Exchange by parent SK Square (KRX:402340).The issue price per DR is 255,500 won, with a conversion ratio of 0.1 share per DR.The proceeds will be used to fund the construction of the first fabrication facility within the Yongin Semiconductor Cluster, the Cheongju P&T7 Advanced Packaging fabrication facility, and to secure machinery and equipment, the filing said.Shares of SK Hynix fell nearly 9% in recent trade, while those of SK Square declined over 13%.
KRX:000660KRX:402340
