Overview
- SK Hynix, which chose Nasdaq on Friday, is moving ahead with a U.S. ADR program that could let the company list as soon as August.
- The company confidentially filed for the listing in March and sources say the U.S. Securities and Exchange Commission may clear the ADR program in the week of June 22.
- The planned offering could raise up to about $14 billion to fund large wafer fabs and to expand high-bandwidth memory production for AI servers.
- Analysts say Nasdaq was chosen to tap higher tech valuations and heavy passive-fund flows into Nasdaq-weighted ETFs that would give SK Hynix broader U.S. investor access.
- SK Hynix’s move follows a roughly 230% share surge this year and a May market value above $1 trillion, but the expansion depends on risky execution steps such as yield ramping and demand cycles.