Investors sought seven times the available shares in SK Hynix’s $26.5 billion offering, with top firms requesting $7 billion more than allocated.
SK Hynix’s $26.5 billion share sale on Wall Street drew $171.5 billion in orders, oversubscribed by seven times. The company offered 177.9 million American depositary receipts, but demand far exceeded supply, leaving many investors with fewer shares than requested or none at all.
The oversubscription highlights strong appetite for the memory-chip maker, which recently became accessible to U.S. investors. Orders included interest from sovereign wealth funds, tech-focused funds, and three major firms—Coatue Management, Baillie Gifford, and Situational Awareness—seeking up to $7 billion in shares.
The deal underscores growing investor confidence in semiconductor stocks, particularly for companies with exposure to high-demand sectors like AI and memory chips.