SK Hynix ADRs opened at $149 on the Nasdaq, giving U.S. investors direct access to the dominant HBM supplier whose entire 2024 production is sold out.
SK Hynix, the South Korean memory chip maker and the world's largest supplier of high-bandwidth memory (HBM) chips, began trading on the Nasdaq on Monday through American depositary receipts.
The ADRs opened at $149 each. The listing gives U.S. investors direct access to a company that dominates a segment of the chip market where supply remains tight. HBM is a key component in the advanced processors used for artificial intelligence workloads.
SK Hynix controls roughly half the global HBM market, ahead of Samsung Electronics and Micron Technology. The company has said its entire 2024 HBM production capacity is sold out, and it expects the supply squeeze to extend into 2025.
The ADR listing follows a period of strong earnings for the company. SK Hynix reported its highest quarterly profit in over a decade in the July-September period, driven by AI-related demand for its memory chips.
Shares of the company's Seoul-listed stock have more than doubled over the past 12 months, giving it a market value of roughly $120 billion. The Nasdaq listing is expected to broaden the shareholder base and improve liquidity for international investors.
SK Hynix's ADRs trade under the ticker SKHYV.
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