BlockBeats News, July 9th. According to Bloomberg, sources revealed that South Korean memory chip manufacturer SK Hynix's U.S. IPO received over 7 times oversubscription, and the company is set to determine the offering price on Thursday.

Sources stated that this offering of 17.79 billion American Depositary Receipts (ADRs) has attracted demand from institutional investors including global long-term funds, technology-focused funds, sovereign wealth funds, and global investors focusing on the Asian market.

According to documents previously submitted to the U.S. Securities and Exchange Commission (SEC), each ADR is equivalent to one-tenth of a common share. Based on Wednesday's closing price of 2.076 million Korean won per share (equivalent to $1380), the fundraising scale of this offering is approximately $24.5 billion. The offering is led by Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase, with the participation of 9 other institutions.

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