SK Hynix (KRX:000660) shares opened roughly 2% lower Monday in South Korea, its first trading day back home since its blockbuster debut in the US.
The South Korean chipmaker listed on the US Nasdaq on Friday, July 10, after initial filings in late June. It raised $26.5 billion from its oversubscribed sale of American depositary receipts, setting the record for the biggest listing by a foreign corporation. It ended the session nearly 13% in the green.
Chief Executive Kwak Noh-Jung marked the milestone with an opening bell ceremony in New York, along with SK Group Chairman Chey Tae-won and SK Square Executive Vice Chairman Chey Jae-won.
"SK hynix seeks to be wherever AI is, continually demonstrating our technology leadership," the CEO said. "The United States is the epicenter of AI. The customers leading AI innovation are here, the partners building the ecosystem are here, and the talent driving the industry is here. This listing strengthens our connection to all of them."
Meanwhile, Nasdaq President Nelson Griggs said the "historic listing" will help support the Asian semiconductor giant's global expansion.
The ADR offering will close Tuesday ET, with new common shares underlying the ADRs to be listed on the KOSPI Market on July 29, Korea time.