SK hynix ADRs surge 14 percent on Nasdaq debut

Korean chipmaker's record $26.5 billion listing opens to strong demand on Wall Street

LEE JAE-LIM
LEE JAE-LIM BUSINESS REPORTER
Published Modified
SK hynix executives and officials ring the opening bell on a Nasdaq stage in New York.
SK Chairman Chey Tae-won, center along with other executives and officials, rings the bell during the ceremony celebrating the listing of SK hynix American Depositary Receipts (ADRs) at the Nasdaq MarketSite in Times Square, New York, on Friday.

SK hynix's American depositary receipts (ADRs) surged 14 percent above their $149 offering price to begin trading at $170 on Friday in New York, capping a landmark debut for the Korean memory giant, which raised a record $26.5 billion in the largest-ever U.S. listing by a foreign company.

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SK hynix priced its American depositary receipts (ADRs) at $149 each, issuing 177.9 million ADRs — equivalent to 17.79 million common shares, or 2.5 percent of total shares outstanding. The ADRs are to begin trading Friday under the temporary ticker "SKHYV," with regular trading set to begin Monday under "SKHY."


BY LEE JAE-LIM [[email protected]]

industry business sk hynix

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