$XL2CSOPHYNIX(07709.HK)

Source: SK Hynix to close bookbuilding for its $28 billion ADR offering on Wednesday due to oversubscription.

[Source: SK Hynix to close bookbuilding for its $28 billion ADR offering on Wednesday due to oversubscription] According to a report by Golden Finance on July 8, a person familiar with the matter said that SK Hynix 000660.KS will close the bookbuilding for its $28 billion American Depositary Receipts (ADRs) on Wednesday U.S. time, as the subscription orders have been oversubscribed several times. The source said that this offering by the South Korean chipmaker is one of the largest new share offerings in global history. Its underwriters have informed investors that the bookbuilding will close at 4 p.m. Eastern Time, with pricing guidance to be announced after the South Korean stock market closes on Thursday, and the allocation results to be finalized later on Thursday U.S. time. SK Hynix previously stated in a filing that it will determine the final price for the ADR offering on Thursday and begin trading on Nasdaq on July 10. The source said that U.S. investors have placed large orders, with minimum order sizes around $200 million, and some of the larger orders even exceeding $1 billion.

The deadline is today, no need to sell stocks for dollars anymore 😁