SK Hynix's Nasdaq Listing Gets Over Seven Times Subscription, Offering Size About $24.5 Billion

CoinFeed July 9 news, according to Bloomberg, South Korean memory chip giant SK Hynix's Nasdaq listing was oversubscribed by more than seven times. The offering involves 177.9 million American depositary receipts (ADRs), attracting demand from global long-only funds, sovereign wealth funds, and institutional investors in the technology sector. Bloomberg calculations show that the offering size is about $24.5 billion, potentially making it the second-largest foreign company listing in U.S. history, behind Alibaba's $25 billion. The subscription will close at 4 p.m. Eastern Time on Wednesday, and the ADRs are expected to begin trading on the Nasdaq on July 10 under the ticker SKHY.