Hynix Semiconductor has set the price for its upcoming share sale at W10,350 per share, which will allow it to raise a total of W724.5 billion $567 million. The money raised will be used to improve the company's financial position and liquidity, though the amount is slightly less than initially hoped for due to a drop in the company's share price since the deal was first announced.
The price was set at a 30% discount to the one-week volume-weighted average price up to yesterday's closing price, but the discount versus yesterday's close of W14,750 is only marginally tighter at 29.8%, which bodes well for the demand. The fully-underwritten offering is primarily targeted at Korean...
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