SK hynix in $26.5 Billion Public Offering

Cleary Gottlieb represented SK hynix Inc. (SK hynix) in its $26.5 billion public offering of 17.79 million common shares represented by American depositary shares (ADSs), each representing one-tenth of a common share.

The ADSs are listed on the Nasdaq Global Select Market under the symbol “SKHY.” SK hynix’s common shares are listed on the KRX KOSPI Market of the Korea Exchange. The deal is the largest ADR offering in history and one of the largest equity offerings on record globally.

BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan acted as the global coordinators and representatives of the underwriters.

SK hynix is one of the world’s leading memory semiconductor manufacturers. SK hynix designs, manufactures, and sells a wide variety of DRAM and NAND flash memory products with various configuration options, architectures, and performance characteristics tailored to meet application- and customer-specific needs.

The Cleary corporate team included partners Jinduk Han, Adam Fleisher, Insoo Park, and Shuangjun Wang; counsel Jay Hoon Choi; and associate Yonghwan (Tom) Kwon. Partners Sebastian Sperber, Jorge Juantorena, Manuel Silva, Helena Grannis, Sarah Lewis, and Synne Chapman advised on securities law matters. Partners Chrishan Raja and Alexis Raguet advised on UK and EU matters. Partners Brian Byrne and Heather Nyong’o and associate Ye Eun (Charlotte) Chun advised on antitrust matters. Partner Matthew Brigham and associates Nathaniel Pribil and Samuel Makikalli advised on U.S. tax matters. Partner Amanda Toy advised on executive compensation and employee benefits matters. Counsel Elizabeth Chang advised on FINRA and NASDAQ matters.