Shares of companies in the storage chip sector saw a significant increase during Friday's trading session.

Seagate Technology PLC (STX.US) led the advance with a rise of over 3%, while SanDisk (SNDK.US) gained more than 2% and Western Digital Corp. (WDC.US) edged slightly higher.

The positive movement coincided with the commencement of trading for South Korean memory chip giant SK Hynix on the Nasdaq exchange.

Nasdaq trading information indicates that SK Hynix began trading on a "when-issued" basis under the temporary ticker symbol SKHYV.

This "when-issued" or pre-issuance trading allows for contracts to be made on a security before its official listing.

It is anticipated that trading will transition to a regular basis on July 13, at which point the ticker symbol will change to SKHY.

SK Hynix Chairman Choi Tae-won stated that after securing favorable returns, the company plans to expand the scale of its American Depositary Receipt (ADR) issuance.

Furthermore, Choi expressed openness to additional investments, including the potential establishment of chip manufacturing operations within the United States.

He noted that even if production capacity were to double over the next five years, customers still anticipate a persistent shortage in memory supply.

Previously, SK Hynix set the price for its ADR offering at $149 per share, resulting in a total fundraising amount of approximately $26.5 billion.

This figure surpasses the $25 billion fundraising record set by Alibaba in 2014, making it the largest IPO by a foreign company in the United States.

The proceeds from the offering are intended to fund SK Hynix's global capacity expansion for AI memory products.

The joint lead underwriters for this public offering are Bank of America, Citigroup, Goldman Sachs, and JPMorgan.

Relevant documents show that each ADR represents one-tenth of a share of SK Hynix common stock traded on the Korea Exchange, with this issuance equivalent to about 2.5% of the company's market value.

Reports indicate that the subscription demand for SK Hynix ADRs exceeded seven times the offered amount.

This strong demand came from a diverse range of institutional investors, including global long-term funds, specialized technology sector funds, sovereign wealth funds, and Asia-focused global investors.