SK hynix debuted on NASDAQ on July 10, raising $26.5 billion in one of the largest foreign IPOs in U.S. history. Shares rose 12.8 percent on the first day of trading.
SK hynix priced its American depositary receipts at $149 each. They opened at $170 and closed at $168.01 on the first day, marking a 12.8 percent gain. The offering of 177.9 million ADRs raised $26.5 billion, ranking as one of the largest IPOs by a foreign company in U.S. history.
SK Group Chairman Chey Tae-won described the NASDAQ debut as a “historical moment” and “dream come true” in a CNBC interview. He said the group expects at least tens of billions of dollars in AI-related investments, including data centers and startups.
CEO Kwak Noh-jung attended the opening bell ceremony in New York. The company said the listing will broaden its global investor base and strengthen its role as a key partner in the AI ecosystem.
Proceeds will fund a new semiconductor fabrication plant and advanced packaging facility in South Korea. SK hynix holds a leading position in high bandwidth memory chips essential for AI applications.
