SK Hynix launches historic U.S. ADR offering

SK Hynix has launched one of the largest U.S. equity offerings ever.
The company sold 177.9M ADRs at $149 each, raising about $26.5B.
Demand reportedly approached $200B, making the deal more than 7x oversubscribed.
Nearly half the shares were allocated to the 10 largest institutional orders.
The ADRs priced at a 3% premium to local shares, with each ADR representing one-tenth of a common share.
Trading is set to begin on Nasdaq under $SKHYV.
The institutional demand shows how aggressively investors are chasing AI semiconductor exposure.