SK Hynix has successfully established itself on the Nasdaq market through its American Depositary Receipt (ADR) listing.
On July 10, trading under the temporary ticker 'SKHYV,' SK Hynix closed at $168.49, a 13.1% increase from its offering price. At one point during the day, shares surged to $177.
Converted to Korean won, this closing price is approximately 2,528,000 won per share, which is 16% higher than the previous closing price of 2,180,000 won on the Korean stock exchange.
This valuation gives SK Hynix a market capitalization of about $1.2 trillion (approximately 1,650 trillion won), surpassing its U.S. competitor Micron, which has a market cap of $1.1 trillion.
This performance underscores the long-standing criticism that South Korean semiconductor companies have faced chronic undervaluation in the global market due to structural limitations, often referred to as the 'Korea Discount.'
The global investment community reacted sensitively to this development. Dan Coatsworth, an investment director at AJ Bell, noted, "The demand in the U.S. market was stronger than expected, suggesting that the memory semiconductor cycle has not peaked but is merely taking a breather."
SK Hynix's ADR listing raised a total of $26.5 billion (approximately 40 trillion won), making it the second-largest IPO in U.S. history, following SpaceX's $85.7 billion offering last month.
The company plans to focus the substantial funds raised on new facility investments and transitioning to advanced processes to enhance its competitive edge.
Starting July 13, SK Hynix will officially change its ticker to 'SKHY' for regular trading.
* This article has been translated by AI.
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