SK hynix Inc. said on Wednesday it has begun taking steps for a US stock market listing to improve access to global investors amid its AI drive. The chipmaker filed a confidential submission with the US Securities and Exchange Commission the previous day, aiming to list American depositary receipts on a US exchange within the year.
SK hynix Inc. disclosed in a regulatory filing on Wednesday that it submitted a 'confidential submission' to the US Securities and Exchange Commission (SEC) the previous day. The goal is to list its American depositary receipts (ADRs) on a US stock exchange within the year. ADRs are securities issued in the US market that enable trading of shares in foreign companies, allowing firms to attract US-based investors without a full listing of common shares. The company noted that the size, schedule, and other details remain unconfirmed and will depend largely on market conditions, with the final decision resting with the SEC. It plans to make another related regulatory filing within six months, or earlier if updates arise. Industry watchers said the move is expected to broaden the chipmaker's funding base in overseas markets. SK hynix's headquarters is in Icheon, southeast of Seoul. The step aligns with the firm's push into artificial intelligence.
