SK Hynix saw its stock price surge over 13% on its first day of trading on the Nasdaq on July 10 (local time). The company opened at $170 and briefly climbed to $177, reflecting strong investor demand. It ultimately closed at $168.49.
This closing price is approximately 13.1% higher than the American Depositary Receipt (ADR) offering price, which was set at a premium of about 2.7% based on the average stock price over the last three trading days on the Korean exchange.
One ADR represents 10 shares of the company's common stock, meaning the value of one ADR is equivalent to 0.1 shares of common stock.
When converted to Korean won at the current exchange rate, the ADR closing price translates to about 2,528,000 won per share, which is roughly 16% higher than the previous day's closing price of 2,180,000 won on the Korean exchange.
Dan Coatsworth, an investment manager at AJ Bell, told Reuters, "Demand in the U.S. was stronger than some markets had anticipated, suggesting that the rise in memory semiconductors has not peaked but is in a consolidation phase."
SK Hynix's ADR listing is valued at $26.5 billion (approximately 40 trillion won), making it the second-largest in the U.S. market after SpaceX's record $85.7 billion last month.
The company plans to use the funds raised from its successful Nasdaq listing for new equipment investments.
* This article has been translated by AI.
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