SK Hynix ADS Surge 13% Above Offering Price on Nasdaq Debut

SK Hynix's American Depositary Shares (ADS) made a strong debut on the Nasdaq, closing their first trading day approximately 13% higher than their initial offering price. The ADS began conditional trading on June 10th (local time) at $168.01, surpassing the offering price of $149. This initial performance significantly outpaced the company's main stock listed on South Korea's KOSPI.

On a converted basis, the SK Hynix ADS traded in the U.S. market were valued at approximately 2.52 million South Korean won per share, reflecting a premium of about 15.7% over the closing price of the domestic common stock. The ADS experienced substantial activity, with over 52 million shares traded within the first 30 minutes of opening. The total volume for the day reached 107.67 million shares, with a total transaction value of $18.464 billion.

Starting June 13th, the SK Hynix ADS will transition to regular trading under the stock ticker 'SKHY'. Each ADS represents 0.1 of a common share of SK Hynix. The strong market reception in the U.S. indicates significant investor interest in the South Korean memory chip giant.