SK hynix files amended F-1 with SEC, as it begins U.S. IPO process

SK hynix has resubmitted an amended F-1 Form registration with the U.S. Securities Exchange Commission (SEC) this week, which included potential litigation risks, as it proceeds with its bid to list on the U.S. market.

According to the filing submitted Tuesday, SK hynix said a "putative antitrust class action suit" was filed in the U.S. District Court for the Northern District of California on Thursday, brought by "indirect purchasers of conventional DRAM [dynamic random-access memory] products."

The plaintiffs alleged SK hynix, its U.S. subsidiary and two other memory semiconductor makers "conspired to restrict the supply of and inflate prices for conventional DRAM beginning in approximately October 2022," the document read.

Also in the filing, the Korean chip giant said it has ranked first in the global high bandwidth memory market, with 56.4 percent market share in the first quarter. It was also the second-largest supplier of NAND flash memory based on revenue during the period, citing data from IDC, a global market intelligence firm.

SK hynix said it plans to use the proceeds to pay for the construction of production facilities in Korea, as well as its acquisition of extreme ultraviolet lithography scanners, expected to cost around 11.9 trillion won ($7.6 billion), and to be delivered by December of 2027.

Unlike its previous filing submitted last Wednesday, the company did not disclose American Depositary Shares pricing or other offering details. 

Such details will be determined through negotiations with underwriters, and will be based on the last reported trading price of common shares, as well as prevailing market conditions and other factors, the chipmaker added.

Yonhap