Images symbolizing SK Hynix, including a massive South Korean flag, appeared in New York City, signaling high expectations for the largest foreign company initial public offering (IPO) in history.
SK Hynix’s American Depositary Receipts (ADRs) officially debuted on the Nasdaq on July 10. The opening bell ceremony, held at the Nasdaq MarketSite in Times Square, drew a star-studded lineup of SK Group and SK Hynix executives, including Chairman Chey Tae-won, Vice Chairman Chey Jae-won, and Chief Executive Officer (CEO) Kwak No-jung.
As the ceremony kicked off, Bob McCooey, Nasdaq’s Senior Vice President for Asia Pacific, took center stage to deliver a congratulatory address for SK Hynix’s ADR listing.
McCooey began by warmly welcoming SK Hynix employees to the Nasdaq family. He introduced the company’s new ticker symbol, SKHY, and hailed the listing as a landmark moment for both SK Hynix and Nasdaq.
Following McCooey’s welcome, CEO Kwak stepped up to the podium. In a departure from traditional business attire, he sported a white tee, black jacket, khakis, and sneakers – a clear nod to SK Hynix’s flexible and pragmatic corporate culture.
After Kwak’s speech, the ceremony’s climax unfolded. Chairman Chey Tae-won led a group including Vice Chairman Chey Jae-won, CEO Kwak, and over 50 SK Hynix employees and Nasdaq officials onto the stage to share in this historic moment.
As Chairman Chey and his colleagues rang the bell, a jubilant chime echoed through the room, accompanied by a shower of multicolored confetti from above. The attendees erupted in applause and cheers, celebrating the successful ADR listing. Some even pumped their fists in the air, caught up in the excitement.
The festivities extended beyond the ceremony venue. SK Hynix promotional videos lit up the Nasdaq Tower’s electronic billboard in Times Square. The night before, the top of the 270 Park Avenue building in Manhattan was illuminated with a colossal representation of the South Korean flag.
This flag-adorned skyscraper, standing at 423 meters (about 1,388 feet), is New York City’s sixth-tallest building. It’s also home to JP Morgan Chase, America’s largest bank. JP Morgan, along with Bank of America Securities, Citigroup, and Goldman Sachs Group, Inc., served as lead underwriters for SK Hynix’s ADR listing.
