Summary
- SK Hynix is seeking a US listing and an ADR listing as early as August.
- SK Hynix is one of the biggest beneficiaries of growing AI server demand and a key supplier of HBM to Nvidia.
- SK Hynix shares have surged about 240%% this year, and its market capitalization topped $1 trillion, putting it in line to join the second half's slate of major IPOs.
Forecast Trend Report by Period
SK Hynix is pursuing a US stock-market listing as early as August, a move aimed at expanding its global investor base by capitalizing on demand for artificial intelligence-related stocks.
Reuters, citing multiple sources, reported on June 10 that SK Hynix is preparing to list American depositary receipts in the US. The listing could come as early as August.
Reuters also reported, citing sources, that the US Securities and Exchange Commission is expected to approve SK Hynix's ADR application in the fourth week of June. SK Hynix said it plans to issue ADRs this year, but details including the size and timing have not yet been decided.
SK Hynix submitted a confidential filing in March for a US listing. At the time, some market observers said the company could raise as much as $14 billion through the offering.
SK Hynix is the world's second-largest memory chipmaker. It is a key supplier of high-bandwidth memory, or HBM, to Nvidia and is one of the biggest beneficiaries of growing demand for AI servers.
The stock has surged about 240% this year. Its market capitalization topped $1 trillion last month, making it only the third Asian company to surpass that mark, after Samsung Electronics and Taiwan Semiconductor Manufacturing Co.
If the August listing proceeds, SK Hynix would join the slate of major US listings in the second half. Investors are also watching potential listings by AI and space-related companies including SpaceX, OpenAI and Anthropic.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
