SK Hynix jumps 13% in Nasdaq debut after $26.5 billion ADR sale

SK Hynix surged 12.8% in its Nasdaq debut Friday after raising $26.5 billion through an American depositary receipt sale, in the biggest US listing by a foreign company, according to Business Times. The ADRs were priced at $149, opened at $170 and closed at $168.01. The South Korean memory-chip maker is using the proceeds to expand factories and equipment as AI-driven demand lifts prices for high-bandwidth memory, or HBM. Chairman Chey Tae-won said customers are pressing for more supply, while CEO Kwak Noh-Jung said shortages could last beyond 2030. But shares in Seoul dropped more than 10% on Monday as investors locked in gains and analysts warned HBM4 shipments may not yet be scaling as expected.