Sources said SK Hynix will close bookbuilding for a $28 billion American
depositary receipt (ADR) offering on Wednesday at 4:00pm ET after orders ran
several times oversubscribed. Underwriters told investors the book closes at
4:00pm ET; pricing guidance will be released after the Korean market close on
Thursday and allocations will be finalized later Thursday US time. US investors
submitted large orders, starting around $200m with some exceeding $1bn. The ADR
will be priced on Thursday and is scheduled to begin trading on Nasdaq on July
10.