Kang Seung-woo is the Business Desk editor at The Korea Times. Prior to this position, he covered politics, national affairs, finance and sports.
SK hynix lists ADRs on Nasdaq to expand global AI presence
SK Group Chairman Chey Tae-won, SK hynix CEO Kwak Noh-jung and other officials applaud during an “Opening Bell” ceremony held at the Nasdaq MarketSite in Times Square, New York, July 10 (local time) to commemorate SK hynix’s listing of its American Depositary Receipts (ADRs). Yonhap
By Kang Seung-woo
SK hynix has listed its American Depositary Receipts (ADRs) on the Nasdaq stock market, marking a move to expand its presence in global capital markets and strengthen its position as a key supplier in the artificial intelligence (AI) semiconductor ecosystem.
The Korean memory chipmaker held an opening bell ceremony at the Nasdaq MarketSite in Times Square, New York, on Friday (local time) to commemorate the start of ADR trading.
The event was attended by SK Group Chairman Chey Tae-won, SK Square Executive Vice Chairman Chey Jae-won and SK hynix CEO Kwak Noh-jung, among other senior executives from the group and company.
The offering consists of 177.9 million ADRs priced at $149 each, raising about 40 trillion won ($26.5 billion). Each ADR represents one-tenth of a common share listed on the Seoul stock market.
ADRs are certificates issued by a U.S. depositary bank that represent shares of foreign companies and trade on U.S. stock exchanges. They allow overseas companies to access U.S. investors while enabling Americans to invest in foreign stocks without opening overseas accounts or dealing with foreign currencies.
The listing comes as demand for AI-related memory chips is surging amid rapid growth in data centers and AI computing. SK hynix has emerged as a leading player in the high bandwidth memory (HBM) market, a critical component for AI accelerators used by major technology companies.
“SK hynix is beginning a new journey in the global market as a leader in AI technology,” Kwak said during the ceremony.
Looking back on the company’s 25 years of overcoming challenges and its HBM breakthroughs since becoming part of SK Group, the CEO emphasized that “HBM now stands at the heart of the AI revolution.”
He reaffirmed his commitment to strengthening SK hynix’s leadership in the global AI ecosystem, saying, “SK hynix will be wherever AI is.”
A SK hynix advertisement is displayed on a screen at the Nasdaq Tower in New York, June 10. Yonhap
Through the Nasdaq listing, SK hynix aims to broaden its global investor base, particularly in the U.S. market, and further strengthen its role as a "core AI partner."
Before the listing, the company conducted a global roadshow for institutional investors across the United States, Europe and Asia, highlighting its technological competitiveness and growth prospects in the AI memory sector.
SK hynix said the ADR listing is expected not only to improve access to global investors but also to create opportunities for new businesses and strategic partnerships within the next-generation computing ecosystem.
Trading of the ADRs began Friday while the offering is scheduled to close on Tuesday. The newly issued common shares underlying the ADRs will be additionally listed on the KOSPI market of the Korea Exchange on July 29.