Woofun AI reports that SK Hynix will conclude its $28 billion American Depositary Receipt (ADR) bookbuilding process at 4 PM Eastern Time on Wednesday, citing subscription levels reaching several times the offering size. Final pricing guidance is scheduled for release after the Korean stock market closes on Thursday, with allocation results finalized later that evening ahead of a planned Nasdaq listing on July 10.

The issuance has generated significant demand from US investors, including large orders ranging from $200 million to over $1 billion. Institutions such as Baillie Gifford and Coatue Management have indicated interest in purchasing up to $7 billion in ADRs. The deal involves issuing 17.79 million new shares, positioning it as the second-largest global stock issuance after SpaceX’s recent $85.7 billion IPO, surpassing the previous records of Saudi Aramco (2019) and Alibaba (2014). Each ADR represents one-tenth of a common share, with a reference price of 242,500 Korean won.