SEOUL — Investor appetite for SK Hynix’s U.S. share offering has proven extraordinarily strong, with demand surpassing the number of available shares by more than seven times, according to a person with knowledge of the situation.
The South Korean semiconductor manufacturer is looking to raise 43 trillion won — roughly $28 billion — in what would be considered one of the biggest new share sales anywhere in the world.
The source declined to provide their name, citing the confidential nature of the share sale details. SK Hynix itself chose not to comment on the matter.
A separate source had previously indicated that underwriters informed investors that pricing guidance would be released after the South Korean stock market closed on Thursday, with share allocations expected to be finalized later that same day in U.S. time. That source had also noted the sale had been oversubscribed several times over.
Bloomberg was first to report the specific figure of how many times the offering was oversubscribed, publishing the details earlier on Thursday.
