SK Hynix Inc is exploring a potential share listing in New York, a move that could help close its valuation gap with US semiconductor peers such as Micron Technology and Taiwan Semiconductor Manufacturing Co.
Bloomberg reported that the South Korean chip giant said it is “reviewing various measures to enhance corporate value, including a potential listing on the US stock market using treasury shares”, adding that no decision has been made.
The statement followed a Korea Economic Daily report claiming investment banks had proposed listing about 2.4% of its outstanding shares, roughly 17.4 million as American depositary receipts.
SK Hynix shares have surged about 225% this year in Seoul, driven by strong demand for high-bandwidth memory chips powering the global artificial intelligence boom.
The stock traded in a tight range on Nextrade on Dec 10.
Speculation over a US listing boosted SK Hynix shares by 6.1% on Dec 8 the stock’s sharpest rise since mid-November prompting the Korea Exchange to caution investors about heightened volatility.
