SK Hynix ADR Receives $171.5B in Subscription Demand for Nasdaq Listing

SK Hynix received over $171.5 billion in subscription demand for its American Depositary Receipt (ADR) offering on Nasdaq, Bloomberg reported on May 8 (local time). The subscription volume exceeded the offering size by more than seven times, with participation from global long-term investment funds, technology-focused funds, sovereign wealth funds, and Asia-focused global investors. The company is set to list its ADR on May 10 (local time) under the ticker symbol SKHYV on the Nasdaq Global Select Market, representing one of the largest US listings by a foreign company.

SK Hynix ADR Subscription Attracts $171.5 Billion in Demand

Bloomberg reported that SK Hynix's book-building process drew subscriptions exceeding seven times the offered volume, totaling approximately $171.5 billion (around 260 trillion won) in subscription capital. Global long-term investment funds, technology sector specialist funds, sovereign wealth funds, and Asia-focused global investors expressed significant participation interest.

Nasdaq Listing Timeline Confirmed for May 10

SK Hynix will finalize its ADR offering price on May 9 (local time). Following the May 10 listing, temporary trading will begin on the Nasdaq Global Select Market under the ticker symbol 'SKHYV', with regular trading commencing on May 13.

Fundraising Scale Ranks Second Among Foreign US Listings

The market initially expected SK Hynix to raise around $29 billion, but the final fundraising amount is projected at $24 billion to $25 billion due to recent stock price declines. This positions SK Hynix as the second-largest US listing by a foreign company in terms of capital raised, following Alibaba's $25 billion offering in 2014.

SK Hynix Stock Price Rises 5.3% on ADR Demand

SK Hynix stock, which had declined for three consecutive days, rose on the day following ADR demand reports. The stock surged over 9% during intraday trading before closing 5.3% higher at 2.186 million won, influenced by profit-taking toward the end of the session.

FAQ

What was the subscription demand for SK Hynix's ADR offering? SK Hynix received over $171.5 billion in subscription demand, exceeding the offering size by more than seven times, according to Bloomberg's report on May 8 (local time).

When does SK Hynix's ADR begin trading on Nasdaq? SK Hynix will list its ADR on May 10 (local time) under the ticker symbol SKHYV on the Nasdaq Global Select Market, with temporary trading starting that day and regular trading commencing on May 13.

How much capital is SK Hynix expected to raise through its ADR? SK Hynix is expected to raise between $24 billion and $25 billion, which would make it the second-largest US listing by a foreign company after Alibaba's $25 billion offering in 2014.