SK Hynix shares traded on the Nasdaq under their new American Depositary Receipt (ADR) listing surged 14% on Friday, marking a robust debut for the South Korean memory chipmaker.
The sharp gain in the US-listed securities helped propel the Kospi to lead gains across Asian equity markets, as investors responded positively to the execution of the company's landmark capital raise.
The ADR offering, valued at approximately $28 billion, involves the issuance of 17.
The ADR offering, valued at approximately $28 billion, involves the issuance of 17.79 million shares.
The strong initial trading performance suggests that Wall Street investors are willing to pay a premium for direct exposure to SK Hynix, one of the world's leading producers of high-bandwidth memory (HBM) critical for artificial intelligence infrastructure.
The move reinforces the company's status as a key driver of the Kospi's recent outperformance, alongside peer Samsung Electronics.
The successful debut comes after SK Hynix trimmed the size of its Nasdaq offering in early July, adjusting the scale to reflect market conditions.