SK Hynix is exploring a potential US listing that could raise up to US$10 billion, as the South Korean chipmaker seeks to expand capacity and capitalise on surging demand for memory chips driven by the artificial intelligence (AI) boom.
Bloomberg reported that the company is considering issuing new shares via American depositary receipts (ADR). The proceeds, estimated between 10 trillion won and 15 trillion won (US$10 billion), are expected to be channelled into building AI-related infrastructure, including a semiconductor cluster in Yongin, as well as expanding memory production capacity.
In response, SK Hynix spokesperson said it is reviewing various initiatives to enhance shareholder value, including a potential ADR listing, although no final decision has been made.
A US listing would provide the company with access to a deeper pool of global investors, potentially narrowing its valuation gap with international peers. The move comes as SK Hynix emerges as a major beneficiary of the AI-driven semiconductor rally, with its shares surging sharply over the past year amid strong demand for high-bandwidth memory (HBM) chips.
A 364% gain in its shares has been one of the key drivers in South Korea’s benchmark Kospi index rising 110% in the past year.
Market observers note that a successful US listing could further boost its valuation, mirroring the experience of Taiwan Semiconductor Manufacturing Company (TSMC), whose ADR presence has attracted significant foreign inflows and strengthened its standing among global investors.
SK Hynix also sent a request for proposals to investment banks to select its listing arrangers, the Maeil Business Newspaper reported separately, citing people in the investment banking industry it didn’t name.
