Hynix launches landmark equity offering

Korean chipmaker enters the next stage of its re-habilitation with the launch of jumbo equity offering.

Pre-marketing begins today September 26 for a roughly $2.5 billion equity offering by Korean chip manufacturer Hynix Semiconductor. The transaction is being treated like a re-IPO and has a full marketing schedule embracing two weeks of pre-marketing and two weeks of roadshows, with pricing scheduled for around October 26.

Merrill Lynch is global co-ordinator of the deal and the only bank to act as a bookrunner on both the domestic and international tranches. The split between the two tranches has not yet been formalised, but specialists expect slightly more than half of the deal to be placed domestically. Alongside Merrill, domestic bookrunners comprise Daewoo, Good Morning and Woori Securities, while Citigroup,...

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