SK Hynix sinks after NASDAQ debut amid profit-taking, easing earnings optimism
- SEOUL: SK Hynix shares dropped more than 10 per cent in early Seoul trade on Monday (Jul 13) as investors booked profit, after a high-profile US listing saw the world's leading AI memory chipmaker surge 12.8 per cent in its NASDAQ debut on Friday.
- The South Korean firm raised over US$26 billion selling American Depositary Receipts priced US$149 each.
- The ADRs opened 14 per cent above the offer price at US$170 before ending their first trading day with a 12.8 per cent gain.
Confirmed
- SEOUL: SK Hynix shares dropped more than 10 per cent in early Seoul trade on Monday (Jul 13) as investors booked profit, after a high-profile US listing saw the world's leading AI memory chipmaker surge 12.8 per cent in its NASDAQ debut on Friday.
- The South Korean firm raised over US$26 billion selling American Depositary Receipts priced US$149 each.
- The ADRs opened 14 per cent above the offer price at US$170 before ending their first trading day with a 12.8 per cent gain.
Sources: CNA