Options on SK Hynix’s American Depositary Receipts started trading on US exchanges on July 14, just days after the South Korean memory chip giant pulled off the largest share sale by a foreign company in US history. The $26.5 billion ADR offering landed on Nasdaq, and now the ripple effects are reaching the derivatives market.
Cboe and MIAX are among the exchanges listing options on the ADRs, which trade under the ticker SKHY.
From Seoul to Nasdaq in record fashion
SK Hynix ADRs initially began trading on July 10 under the temporary symbol SKHYV before transitioning to SKHY on July 13. The shares were priced at $149 at offering and opened at $170, a 14% pop on day one.
That $26.5 billion raise eclipses every prior share sale by a foreign entity on US exchanges.
