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Heinex issues $28 billion deposit certificates on NASDAQ
South Korean company SK Hynix has agreed to issue American depositary receipts (ADRs) valued at up to $28 billion on the NASDAQ stock exchange, aiming to capitalize on the strong demand for stocks of commercial memory chip companies, especially those used in artificial intelligence technologies. The offering is expected to consist of approximately 17.8 million ordinary shares, with the certificates trading starting from July 10 under the symbol (SKHY). This offering follows a strong performance by the company's shares in the Seoul market, where they have risen by 260% since the beginning of the year, with a market value exceeding one trillion dollars. There has been significant institutional investor interest in the certificates, with initial demand surpassing $7 billion.
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