SK Hynix's entry into the Nasdaq market was marked by a large South Korean flag illumination in the heart of Manhattan, New York.
According to industry sources, on July 9, local time, a massive light display in the shape of the South Korean flag was activated atop JP Morgan's headquarters at 270 Park Avenue, which stands 423 meters tall, making it the sixth tallest landmark in New York.
JP Morgan, along with Bank of America Securities, Citigroup, and Goldman Sachs, served as the underwriters for SK Hynix's American Depositary Receipt (ADR) listing.
The offering saw significant interest, with demand exceeding the target amount by seven times during the investor demand forecast. It appears that JP Morgan decorated its headquarters with the South Korean flag lights to celebrate and welcome this achievement.
SK Hynix officially listed its ADR on the Nasdaq at 9:15 a.m. local time on July 10 (10:15 p.m. in South Korea), starting conditional trading under the ticker symbol 'SKHYV.'
Approximately 177.9 million shares, representing about 2.5% of the total issued shares, were newly issued at an offering price of $149 per share.
* This article has been translated by AI.
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