SK hynix(000660) listed American depositary receipts (ADR) on Nasdaq, and on the first day, domestic retail investors were found to have bought about 400 billion won worth.
According to Yonhap on the 15th, on the 10th when SK hynix ADR began trading on Nasdaq, about 84,000 investors bought the shares through nine major domestic securities firms including Mirae Asset Securities.
The total volume secured by domestic investors that day was 1.36 million shares. This accounts for 0.76% of the total offering of 177.9 million shares. The valuation of those shares is about 338.9 billion won.
If customers of other securities firms not included in those surveyed are added, the number of domestic investors who bought SK hynix ADR is expected to approach about 100,000. The total holdings are also expected to reach the 400 billion won range.
The strong buying by retail investors can also be seen in the domestic stock market. On the 10th in the domestic KOSPI market, individuals made a net purchase of 788,510 shares of SK hynix. The total purchase amount was about 1.7 trillion won.
Even on the 13th, when the stock price plunged 16.15% from the previous trading day, retail investors scooped up additional shares worth about 3 trillion won.
It is analyzed as the result of sentiment that the stock price will rise further as global capital inflows begin in earnest with this Nasdaq ADR listing.
However, on the first day of listing, the stock showed extreme volatility. SK hynix ADR opened at $170, above the offering price of $149. It once surged to $177 intraday, but as the gains gradually narrowed, it ultimately closed at $168.49.
The first-day closing price was up 13.1% compared with the offering price but was lower than the opening price. Investors who bought shares intraday after the listing likely did not see gains based on the first-day close.
On the second day of trading, the decline was steeper. On the 13th on Nasdaq, SK hynix ADR closed down 9.32% from the previous trading day.
The size of SK hynix's ADR listing comes to a total of $26.5 billion (about 40 trillion won).