On July 10, SK Hynix listed on the Nasdaq in the United States. The stock traded temporarily under the ticker symbol "SKHYV" and is expected to convert to regular trading on July 13, with the ticker symbol changing to "SKHY." This offering represents the largest IPO in the U.S. by a company based outside the United States, as well as the largest American Depositary Receipt (ADR) issuance in history and one of the largest global equity offerings ever undertaken.

 

SK Hynix is a world-leading semiconductor memory manufacturer headquartered in Icheon, South Korea. The company is deeply engaged in the design, manufacturing, and sales of advanced memory semiconductors. It is a key supplier of high-bandwidth memory (HBM) chips used in AI systems for clients such as Nvidia and Google. Its stock price has tripled on the Korean stock market so far this year. According to the prospectus, the proceeds from this offering will be used to expand production capacity and procure extreme ultraviolet lithography equipment.

 

Cleary Gottlieb Steen & Hamilton and Korean firm Shin & Kim acted as legal counsel to SK Hynix.

Paul Hastings and Kim & Chang acted as legal counsel to the underwriters.