SK Hynix ADR predicts an opening price of $170, 14% higher than the issue price
SK Hynix's American depositary receipts (ADRs) are expected to open at $170 each, 14% higher than the issue price of $149. SK Hynix issued 177.9 million ADRs this time, raising approximately US$26.5 billion. Each ADR represents one-tenth of one common share listed in South Korea. Serving as lead underwriter, Cantor Fitzgerald, Group, Needham & Co. , , Rosenblatt Securities, Stifel Financial Corp. , Wedbush Securities, William Blair and Wolfe | Nomura Alliance serve as joint bookrunners. The ADRs are expected to be available in pre-release trading later on Friday. It is listed on the Global Select Market with the stock code SKHYV; after official trading begins on July 13, the stock code will be changed to SKHY.