As SK hynix made its debut on Nasdaq on the 10th (local time) through an American depositary receipt (ADR) listing, it surged more than 13% on the first trading day to close higher.

Chey Tae-won, chairman of SK Group, Senior Vice Chairman Choi Jae-won, CEO Kwak Noh-jung of SK hynix, and other executives and employees hold a Nasdaq listing ceremony for depository receipts (ADR) at the Nasdaq Tower in New York, United States, on the 10th. /Courtesy of News1

On the Nasdaq market, SK hynix opened at $170, jumped to as high as $177 intraday, then gave back part of the gains in the afternoon to finish its first day at $168.49.

That is about 13.1% above the ADR offer price of $149. The ADR offer price was set by reflecting about a 2.7% premium to SK hynix's three-trading-day average share price in the Korea market.

Converting the first trading day's ADR closing price into won at the exchange rate comes to about 2,528,000 won per share of the Korea stock. That is about 16% higher than SK hynix's closing price of 2,180,000 won on the exchange's regular session the previous day (the 10th).

Also, based on the ADR closing price, a simple calculation puts SK hynix's market capitalization at $1.2 trillion. That exceeds Micron's $1.1 trillion.

The total offering for SK hynix this time is 177.9 million shares, through which SK hynix will raise $26.507 billion (about 3.98111 trillion won). That is the second-largest size in the U.S. market after SpaceX's $85.7 billion.

SK hynix plans to invest the funds secured through this Nasdaq listing in new facility investments and other uses.

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