Key facts
- SK hynix's ADRs jumped about 13% on their first day of trading on the Nasdaq.
- The shares closed at $168 each, above the $149 IPO price.
- The offering consisted of 177.9 million ADRs, raising about $26.6 billion.
- This listing is one of the largest U.S. equity offerings by a foreign company.
- SK hynix stated the Nasdaq listing will broaden its global investor base and strengthen its position in the AI ecosystem.
SK hynix Inc., the world's second-largest memory chip maker, saw its shares jump approximately 13% on its debut day on the Nasdaq. The company's American depositary receipts (ADRs) closed at around $168, significantly above the $149 IPO price. This offering, which raised about $26.6 billion (40 trillion won), marks one of the largest stock sales by a foreign company in U.S. history. The strong performance is attributed to the global spending boom on artificial intelligence and the increasing demand for AI memory chips to support expanding data centers. SK hynix stated that the Nasdaq listing will expand its U.S. capital market investor base and reinforce its role as a key partner in the AI ecosystem, leveraging its industry-leading technology and stable supply capabilities for global Big Tech clients.