SK hynix, a South Korean memory chipmaker, fell as much as 4.4% in early Seoul trading on July 13.

The ADRs were priced at US$149 each, opened at US$170, or 14% above the offer price, and ended their first day up 12.8%.

South Korea’s benchmark KOSPI was down 0.4% as of 0021 GMT.

The US sale involved newly issued depositary shares equal to one-tenth of a Seoul-listed common share and aimed to fund new factories and equipment.

At about US$26.5 billion, the offering was the largest-ever first-time US share sale by a foreign company.

Its offer price was set 3.1% above the equivalent Seoul closing price before trading began.

Investors are also watching SK hynix’s position in high-bandwidth memory used in AI chips.

🔗 Source: Reuters

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