Sanchari Ghosh Sanchari Ghosh is an Assistant Editor at Mint with over 12 years of experience in journalism, specialising in personal finance, DLT & DeFi, geop...
Shares of South Korean memory chipmaker SK Hynix rose 12.8% on their first day of trading on the Nasdaq on Friday, after the company priced the largest-ever U.S. initial public offering by a foreign company.
The offering of 177.9 million American depositary receipts raised $26.5 billion. Each ADR priced at $149 Thursday, opened at $170 and closed at $168.01.
SK Hynix is already one of South Korea's largest companies, a member of the Kospi index, and the dominant supplier of high-bandwidth memory (HBM) chips used in Nvidia's AI accelerators. The company holds 58% of the HBM market and is Nvidia's primary partner for the latest generation of chips, with early testing underway on the next HBM4E standard.
The Nasdaq listing matters for Indian investors because it removes a structural barrier. SK Hynix shares previously traded only on the Korea Exchange, which is difficult for most Indian retail investors to access through their usual brokerage accounts. Now the stock is available through the same U.S. brokerage route used for any American company.
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