Why is SK Hynix going public in US with 8x over-subscription and record $28 billion offering?
The post Why is SK Hynix going public in US with 8x over-subscription and record $28 billion offering? appeared on BitcoinEthereumNews.com. South Korean semiconductor company SK Hynix (KRX: 000660) will list itself on Nasdaq via an offering which may hit almost $28 billion, making SK Hynix close to one of the largest-ever initial public offerings in the market. SK Hynix plans to sell 177.9 million American depositary receipts, while investor subscriptions for the IPO have already reached more than seven times the planned number. According to earlier forecasts, the amount was close to $26.5 billion, but now, according to the prospectus, it’s closer to $28 billion. SK Hynix’s Seoul-listed shares have jumped about 700% in the past year, giving the company a market value above $1 trillion and putting it closer to Micron Technology (NASDAQ: MU), its main US-listed rival. SK Hynix uses Nasdaq to reach US investors while ADR demand comes back to life The use of American Depositary Receipts or