SK Hynix 000660 is considering paying about 0.5% 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% 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.
-
SK Hynix declined a Reuters request for comment.
-
Citigroup C, one of the banks leading the share sale, declined to comment on Saturday. The other banks leading the transactions Goldman Sachs GS, JPMorgan <JPM.N> and Bank of America <BAC.N> 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.