SK hynix ADR offering attracts 7 times the subscriptions, proceeds expected to reach 245 billion dollars

Subscriptions for SK hynix’s American Depositary Receipt (ADR) offering exceeded 7 times the amount offered. Global long-term investment funds, technology-specialist funds, sovereign wealth funds, and global investors specializing in Asia participated in the subscription.

The offering price is expected to be finalized during 8 (local time). If the offering price is set based on the company’s common-stock closing price of 207 ten thousand won, the proceeds are expected to reach approximately 6000 billion dollars (245 trillion 37 billion 1400 won).

This amount of proceeds is close to 2014 Alibaba raised when it listed in the United States in 250 at 2 billion dollars. It was reported that the offering is highly likely to rank

According to reports, the success of this offering is understood to have resulted from concentrated investor interest in expectations for expanding demand for artificial intelligence (AI) semiconductors and SK hynix’s standing in the high-bandwidth memory (HBM) market. SK hynix is known as a supplier of HBM for NVIDIA’s AI accelerators.

Memory companies including SK hynix, Samsung Electronics, Micron, and Kioxia are reported to have seen their corporate values rise significantly in recent 1years, against the backdrop of expanding AI demand. On Wall Street, investor interest in receiving allocations of SK hynix ADRs is reportedly continuing.