SK Hynix Inc’s (NASDAQ:SKHYV) Seoul-listed shares tumbled more than 12% on Monday as investors took profits following the artificial intelligence memory-chip maker’s blockbuster Nasdaq debut last week, raising over $26 billion.
Seoul Shares Tumble After U.S. Listing
The Seoul-listed shares fell 12.89% to KRW 1.89 million ($1,253.16), extending losses through the morning session.
The stock opened at KRW 2.113 million ($1,401) and touched an intraday low of KRW 1.892 million ($1,253), compared with Friday’s close of KRW 2.180 million. ($1,445.51)
In its Nasdaq debut on Friday, the semiconductor company sold American Depositary Receipts at $149 each and opened about 14% above the offer price at $170.
