SK Hynix is set to submit an application for a U.S. ADR listing, with trading expected to begin as early as next month.

```

SK hynix is accelerating its plan to list in the US. The largest chip maker in South Korea is about to submit an application for issuing American Depositary Receipts (ADR) to the country's financial regulators, with hopes of officially listing on the US market as early as next month.

According to Korea Economic Daily, SK hynix plans to submit related filing documents to Korea’s financial regulators soon, and regulatory review could be completed as early as July 3. This means the start of ADR trading may come sooner than previously expected. Based on the company’s current market value, the industry estimates the issuance scale could reach up to 40 trillion won (about $26 billion), which would be comparable to Alibaba Group’s record-setting $25 billion IPO.

This US listing plan is seen as a key move for SK hynix to broaden its global investor base and enhance its capital market financing capability. Analysts believe that as the company’s reputation among international investors grows, listing in the US is expected to help it narrow the long-standing valuation gap with American semiconductor peers.

Issuance scale remains uncertain

According to Korea Economic Daily, SK hynix plans to issue new shares in Korea and deposit them with the Korea Securities Depository as the underlying securities for the ADR issuance. Once regulatory review is completed before July 3, listing on the exchange could happen as early as next month.

SK hynix publicly disclosed its ADR listing plan for the first time in March this year, stating it would complete the issuance in New York in the second half of the year. The ADR underwriting syndicate is strong; according to previous reports from Korea Economic Daily, Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America are the lead underwriters.

Currently, the final fundraising amount in this issuance remains undetermined. Earlier reports suggested the raising could be up to $10 billion, but based on SK hynix’s market value after the stock rally, industry estimates a high-end limit of about $26 billion.

SK hynix CEO Kwak Noh-Jung was asked about the fundraising scale at this year’s shareholder meeting and made it clear that there is no conclusion yet, but the company’s goal is to elevate its valuation to be on par with other AI hardware suppliers.

AI chip demand drives soaring valuation

SK hynix has become one of the biggest beneficiaries of the global AI wave. The company dominates the high-bandwidth memory (HBM) chip sector, and such chips are the core components of Nvidia AI accelerators. Driven by this, SK hynix stock has surged over 300% so far this year.

The company noted that the US listing will effectively expand its coverage among global institutional investors and improve its financing channels in the international capital markets. Analysts also pointed out that a US listing can significantly boost the company's exposure among global investors, helping it repair the long-term undervaluation relative to its US semiconductor peers.

Risk warning and disclaimerThe market has risks, investment needs caution. This article does not constitute personal investment advice, nor does it take into account the individual investment objectives, financial situations or needs of specific users. Users should consider whether any opinions, viewpoints or conclusions in this article fit their particular circumstances. Investments based on this are at their own risk. ```