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SK Hynix considering 0.5% fee payout in ADR offering, Bloomberg News reports

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July 4 : SK Hynix is considering paying about 0.5 per cent of the proceeds from its U.S. listing  to banks working on the deal, Bloomberg News reported on Saturday citing people familiar with the matter. 

• The South Korean chipmaker has indicated it could issue up to 2.5 per cent of its outstanding shares, although the final size of the offering has not been determined, the report said.

• SK Hynix may also pay discretionary incentives on top of the base underwriting fee, the report added.

• The world’s second-largest memory chipmaker will kick off its ADR book building process on July 6 and determine the final offer price on July 9 ahead of its Nasdaq debut the following day.

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• SK Hynix declined a Reuters request for comment.

• Goldman Sachs, JPMorgan, Citigroup and Bank of America, leading the share sale, did not immediately respond to a Reuters request for comment outside regular business hours.

• Last month, the company said it plans to raise up to $29.4 billion through a U.S. stock market listing in what would be among the biggest listings globally, as the Nvidia supplier seeks to capitalize on strong investor appetite for AI stocks.

Source: Reuters

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