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 finalised 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 s

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 finalised 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.