SK Hynix Shares Jump 13% on Nasdaq Debut; Chairman Chey Tae-won Outlines Investment Strategy

[Anchor]

SK Hynix has officially listed on the New York Nasdaq. It marks the largest-ever listing by a foreign company on the New York stock market, and shares surged 13% on their first day of trading.

We begin with our correspondent Kim Beom-joo in New York.

[Reporter]

At the Nasdaq in New York, Chairman Chey Tae-won and SK Hynix employees celebrate the company's listing.

It is the largest initial public offering (IPO) by a foreign company in New York history, and the second-largest overall, trailing only the SpaceX listing that took place last month.

The company adopted a method of issuing new shares equivalent to 2.5% of its total equity, depositing them with a depository institution, and trading certificates that represent these shares.

Major global investors, who previously had limited access to the Korean market, can now buy and sell Hynix shares directly in U.S. dollars.

[Interview: Kwak Noh-jung / CEO of SK Hynix]
"It has become easier for investors to access our shares. We are delighted to have global investors join us on our journey."

With today's (July 11) listing, Hynix has secured 40 trillion won, which the company stated will be prioritized for building domestic plants and expanding facilities.

SK Group Chairman Chey Tae-won said that the company will continue to make large-scale investments both domestically and internationally to meet the demand for artificial intelligence and to stay ahead of competition from China.

[Interview: Chey Tae-won / Chairman of SK Group]
"We must increase capacity as quickly as possible. It is an unchanging fact that we are making our largest investments in Korea. However, I have been saying that even that is not enough."

Hynix shares closed 12.7% higher than the offering price on the Nasdaq today.

Compared to the stock price in the domestic market, this is more than 15% higher per share. Analysts are divided, with some viewing it as a revaluation of the company's value in the global market, while others suggest it is the result of intense initial interest that requires further observation.

SK Hynix also mentioned that it may consider a stock split in the domestic market.

(Video by Lee Hee-hoon)
※ Please note: This article was translated by AI and may contain errors.