SK Hynix Shares Slide After Strong U.S. Market Debut

SK Hynix shares fell more than 6 percent on Monday, tracking the broader decline in technology stocks, after posting a gain of roughly 13 percent during their U.S. market debut, Daniel Howley reported for Yahoo Finance.

SK Hynix raised approximately $26.5 billion through the IPO. (Photo: SK Hynix)

The chipmaker's American depositary receipts (ADRs) were trading at $157, down from Friday's closing price of $168, but remained above their $149 initial offering price.

The initial public offering consisted of 177.9 million ADRs, with each ADR representing one-tenth of a common share, equivalent to 17.79 million common shares.

Overall, SK Hynix raised approximately $26.5 billion through the IPO.

The company's shares listed on the Korea Exchange have surged over the past year, driven by robust demand for memory and storage chips fueled by the global expansion of artificial intelligence (AI) data centers.