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International Business Times
International Business Times
Business

SK Hynix Listed A $28 Billion Share Sale. Demand is Seven Times Oversubscribed

SK Hynix Memory Micron Nasdaq Nvidia
Demand for SK Hynix's $28 billion American depositary receipt (ADR) offering has reportedly exceeded available shares by more than seven times. (Credit: Getty Images)

SK Hynix's highly anticipated U.S. stock market debut is off to a strong start, with demand for the South Korean memory chipmaker's $28 billion American depositary receipt (ADR) offering reportedly exceeding available shares by more than seven times.

The offering, which is expected to become the world's second-largest share sale after SpaceX's record $85.7 billion initial public offering last month, is designed to help SK Hynix finance new semiconductor manufacturing facilities and equipment as global demand for AI memory chips continues to outpace supply.

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