SK Hynix shares saw strong gains exceeding 14% on the first day of trading on the Nasdaq, following the company's sale of shares worth $26.5 billion.

American Depositary Receipts (ADRs) of the South Korean chipmaker opened at $170 per share, compared to the offering price of $149, representing a premium of 2.7% above the average price of its shares over the last three trading days in Seoul.

Each 10 ADRs are equivalent to one ordinary share, and this offering is the second largest stock sale in the United States after SpaceX last month. SK Hynix plans to use the proceeds to fund its expansion plans, which include investment in new factories and equipment.

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