Shares of SK Hynix's American depositary receipts climbed 4.29%, or $6.53, to $158.84 Friday morning, offering a partial rebound after a rough stretch that has seen the newly listed stock swing wildly in both directions since its blockbuster Nasdaq debut earlier this month.

The bounce comes after another turbulent overnight session for the memory chipmaker's U.S.-listed shares. The stock closed Thursday at $152.31, having fallen sharply in premarket trading by as much as 5.80% at one point, before staging a partial recovery into Friday's session. The recent swings extend a pattern that has defined SK Hynix's ADR since it began trading on the Nasdaq, with the stock repeatedly posting double-digit percentage moves, sometimes within the same trading week, as investors continue working out how to value the newly listed security.

SK Hynix made history on July 10 when its ADRs began trading on the Nasdaq following a $26.5 billion offering, the largest first-time share sale ever completed by a foreign company on a U.S. exchange. The ADRs opened at $170 per share, a 14% premium above their $149 offering price, before finishing their first session at $168.01. Demand for the offering reportedly exceeded available supply by more than seven to one, according to Reuters, with roughly $5 billion of the ADRs allocated to three cornerstone investors: Baillie Gifford, Coatue Management and Situational Awareness Partners.

At the opening bell ceremony held in Times Square, SK Hynix Chief Executive Kwak Noh-Jung called the........

© International Business Times