SK Hynix ADR rises on record Nasdaq debut after $26.5 billion offering

The South Korean memory-chip maker’s U.S. listing was more than seven times oversubscribed, closed up 13% on July 10, and was also offered in tokenized form to eligible non-U.S. Telegram users.

45d ago

Fact Check

The odaily flash (newsflash 499562), citing Jin10, states almost verbatim that SK Hynix chair Chey Tae-won is open to more investment including U.S. chip operations and has not seen any contraction in HBM demand. Two companion same-day flashes (499578, 499573) reinforce the consistent set of remarks made on the day of SK Hynix's Nasdaq/ADR debut. These corroborate the claim. Confidence is medium rather than high because the corroboration comes from secondary Chinese-language newswire aggregators rather than a located primary transcript or English-language wire report.

Summary

SK Hynix raised about $26.5 billion in a Nasdaq American depositary receipt listing, marking the largest U.S. market debut by a non-domestic company and surpassing Alibaba’s previous record. The company priced 177.9 million ADRs at $149, representing about 2.5% of outstanding equity; the shares opened at $170 under ticker SKHYV and closed their first trading day on July 10 at $168.01, up about 13%, after the deal was more than seven times oversubscribed. SK Hynix said proceeds will fund fabs, advanced packaging, lithography equipment, AI customer cooperation and AI talent. The listing gives U.S. investors more direct access to a leading high-bandwidth-memory supplier amid strong AI-driven demand, while xStocks separately offered tokenized exposure tied to the listing through Wallet in Telegram for eligible users outside the United States.

Terms & Concepts

ADR: A U.S.-traded certificate representing shares in a foreign company.
HBM: High-bandwidth memory used alongside AI chips and accelerators.
tokenized exposure: Blockchain-based access to the price performance of an asset such as a stock.