When a company tries to raise $28 billion and investors show up with $196 billion worth of demand, that tells you something about where the smart money thinks the future is heading. SK Hynix, the South Korean memory chip giant that supplies the high-bandwidth memory powering Nvidia’s AI accelerators, just pulled off one of the largest share offerings in history, and the market couldn’t get enough of it.
The company’s American Depositary Receipt listing on Nasdaq, trading under the ticker SKHY, saw demand exceed seven times the available shares.
Inside the deal
SK Hynix is selling 17.79 million new common shares, structured as 177.9 million ADRs at a ratio of 10 ADRs per common share. The pricing is based on the company’s closing share price in Seoul.
The company had initially targeted a raise of up to $29.4 billion before settling on the $28 billion figure.
