SK Hynix's American IPO reportedly received more than seven times oversubscription.

Insiders said that SK Hynix's US IPO received more than seven times oversubscription. The South Korean memory chip manufacturer plans to price on Thursday. Some insiders said that the offering of 177.9 million American Depositary Receipts (ADRs) attracted subscriptions from global long-only funds, tech-focused funds, sovereign wealth funds, and global investors focused on the Asian market. According to documents filed by SK Hynix with the US Securities and Exchange Commission, each ADR represents one-tenth of a common share. Based on the closing price of the company's stock listed in Korea at 207.6 million Korean won per share on Wednesday, the size of this US IPO is expected to be around $24.5 billion. Data shows that, if calculated at this size, this IPO is expected to set the second-largest US listing transaction record for a foreign company in history, second only to the $25 billion set by Alibaba.