AI chip giant SK Hynix weighs New York stock listing
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SK Hynix's shares have surged about 225 per cent so far in 2025 in Seoul, bolstered by hot demand for high-bandwidth memory chips.
PHOTO: REUTERS
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SEOUL - SK Hynix is reviewing the possibility of listing shares in New York, a move seen potentially helping close the valuation gap between the South Korean chipmaker and US peers including Micron Technology.
The company is “reviewing various measures to enhance corporate value, including a potential listing on the US stock market using treasury shares, but nothing has been finalised at this time”, SK Hynix said in a regulatory filing on Dec 10.
That comes after Korea Economic Daily reported on Dec 9 that the company had received proposals from several investment banks to list about 2.4 per cent of its outstanding shares – roughly 17.4 million shares – as American depositary receipts (ADRs).
The stock has surged about 225 per cent so far in 2025 in Seoul, bolstered by hot demand for high-bandwidth memory chips that are helping to power the artificial intelligence boom.
“By listing its shares as ADRs, the valuation gap between SK Hynix and other listed peers (such as Micron and TSMC) could be reduced,” Mr Douglas Kim wrote in a note on Smartkarma.
“The listing of ADRs could attract capital from passive funds, ETFs (exchange-traded funds) and long-only funds that invest only in US-listed stocks.”
Shares of SK Hynix jumped 6.1 per cent on Dec 8, the biggest gain since mid-November, amid renewed speculation that the company is preparing a US listing. The sudden move on top of the stock’s big gain so far this year triggered a warning from Korea Exchange to investors to proceed with caution. BLOOMBERG
