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SK hynix officially listed its American Depositary Receipts (ADRs) on the U.S. Nasdaq market.
SK hynix held an "Opening Bell" ceremony to mark the ADR listing at the Nasdaq MarketSite in New York's Times Square on Nov. 10 local time.
Key executives including SK Group Chairman Chey Tae-won, SK Group Vice Chairman Chey Jae-won, and SK hynix Chief Executive Officer Kwak Noh-jung attended the event to celebrate the listing.
The offering covered 177.9 million ADRs at a price of $149 per share. Each ADR corresponds to one-tenth of a common share, meaning about 17.79 million common shares were issued on a common-stock basis.
SK hynix plans to use the ADR listing to expand its global investor base in the U.S. capital markets and further strengthen its position as a key artificial intelligence (AI) partner.
The company said that a roadshow held ahead of the listing, targeting institutional investors in major markets across the U.S., Europe, and Asia, drew strong interest in its technological capabilities and growth potential as a leader in the AI memory market.
SK hynix expects the listing to serve not just as a means of raising capital but as an opportunity to strengthen connections with the next-generation computing ecosystem and discover new business opportunities. Through this, the company aims to improve accessibility for global investors and contribute to the development of the AI ecosystem.
In his commemorative remarks, CEO Kwak Noh-jung presented "Trust," "Innovation," and "Growth" as core values. "We are grateful to the investors and customers who believed in us, and we will expand the boundaries of memory's possibilities through innovation, while supporting the employees who have been with us to achieve even greater accomplishments," he said. "SK hynix will prove its technological leadership and be present wherever AI is."
Meanwhile, the SK hynix ADRs, which began trading for the first time that day, will complete payment of offering proceeds on Nov. 14 U.S. time. The common shares (new shares) underlying the ADRs are scheduled to be additionally listed on the securities market around Nov. 29 Korea time.
