SK Hynix will close the bookbuilding for its $28 billion U.S. American Depositary Receipts (ADRs) offering on July 8. The deal is already oversubscribed multiple times due to massive investor interest.
The company will use the capital to expand AI memory production capacity and acquire next-generation equipment. This transaction represents one of the largest U.S. listings ever by a foreign company.
Cornerstone investors including Baillie Gifford and Coatue Management have already committed up to $7 billion in interest. The response underscores SK Hynix's dominance in the high-bandwidth memory (HBM) sector critical to the artificial intelligence industry.