Key facts
- SK Hynix plans to list its shares in the U.S. as soon as August.
- The company is seeking to capitalize on strong demand for AI-linked stocks.
- The U.S. Securities and Exchange Commission is expected to approve SK Hynix's ADR listing application during the week of June 22.
- SK Hynix aims to broaden its investor base with the U.S. listing.
- Samsung Electronics is considering building a new chip packaging plant in Gwangju, South Korea.
SK Hynix, the world's second-largest memory chipmaker and a key supplier to Nvidia, is planning to list its shares in the U.S. as soon as August. This move aims to capitalize on the strong investor appetite for AI-linked stocks and expand its shareholder base. The company has seen its share price surge 240% this year, surpassing a $1 trillion market valuation, making it the third Asian company after TSMC and Samsung Electronics to reach this milestone.
The U.S. Securities and Exchange Commission is expected to approve SK Hynix's American depositary receipt (ADR) listing application during the week of June 22. While the company stated in March it had confidentially filed for a U.S. listing, with one source suggesting the offering could raise as much as $14 billion, the exact details regarding size and timing are still being finalized. SK Hynix has received positive feedback on its listing plan, driven by robust AI demand and its leading position in high-bandwidth memory (HBM) chips essential for AI servers.
Meanwhile, Samsung Electronics is reportedly considering building a new advanced semiconductor packaging facility in Gwangju, South Korea. This potential investment, which could be announced at a June 29 meeting with South Korean conglomerates, aims to enhance Samsung's competitive edge in the HBM market against rivals like SK Hynix. Samsung's customers for AI chips include major players such as Nvidia, AMD, and Google.