SK Hynix, the second-largest memory chipmaker globally, is preparing to list its shares in the United States as early as August. This move comes as the company seeks to leverage the growing investor interest in AI-related stocks and expand its shareholder base.
According to sources familiar with the situation, the US Securities and Exchange Commission (SEC) is expected to approve SK Hynix's application for American depositary receipts (ADRs) during the week of June 22. The company has indicated plans to issue ADRs by 2026, although specific details regarding the offering's size and timing are still being finalized.
In March, SK Hynix had confidentially filed for a US listing, with estimates suggesting that the offering could raise up to $14 billion. As a key supplier to Nvidia, SK Hynix has benefited significantly from the AI boom, particularly in high-bandwidth memory chips essential for AI servers.
The company's share price has experienced a remarkable increase of 240% this year, pushing its market valuation above $1 trillion. This milestone makes SK Hynix the third Asian company to reach this valuation, following Taiwan's TSMC and Samsung Electronics.
Recent reports highlight that SK Hynix has received overwhelmingly positive feedback regarding its listing plans, attributed to strong demand for AI technologies and its competitive edge in the memory-chip sector.
Should the August listing proceed, it would contribute to a busy second half of the year for US equity markets, with several notable AI-related listings anticipated, including those from OpenAI and Anthropic, alongside SpaceX's highly anticipated IPO.
