SK Hynix will announce the pricing of its US ADRs on Thursday (9th), and the offering has already been oversubscribed by more than seven times, Bloomberg, citing sources, reported.

The IPO of 177.9 million ADRs has attracted interest from global long-only funds, technology-focused funds, sovereign wealth funds and global investors focused on Asian markets, sources divulged.

The US IPO is expected to raise approximately USD24.5 billion, potentially making it the second-largest IPO by an overseas company in the US, behind only the USD25 billion record set by Alibaba Group Holding Limited (BABA.US).

At present, SK Hynix has already attracted subscriptions from Baillie Gifford, Coatue Management and Situational Awareness Partners, involving ADRs valued at up to USD7 billion.

SK Hynix (000660.KS) last soared 7.03% at KRW2.22 million.
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AASTOCKS Financial News
Website: www.aastocks.com

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