South Korean memory chip maker SK Hynix has confidentially filed with the US Securities and Exchange Commission (SEC) for a potential listing of American Depositary Receipts (ADRs) on a US stock exchange, aiming to complete the process by the end of 2026.
The filing does not specify the size, method, or timing of the offering, though market analysts estimate it could raise between $10 billion and $14 billion (roughly 10–15 trillion won).
The ADRs would represent SK Hynix shares held in custody by a US depositary bank, allowing them to trade on exchanges such as the New York Stock Exchange or Nasdaq.
SK Hynix said the US listing is intended to secure large-scale funding to expand production of high-bandwidth memory and other chips used in artificial intelligence infrastructure.
The company has committed to significant capital spending, including plans to purchase around $8 billion of extreme ultraviolet equipment from ASML by 2027.
The move also reflects management’s goal of narrowing the “valuation gap” with US-listed peers, where AI-focused chipmakers often command higher market multiples than in South Korea.
SK Hynix competes globally with other memory chip producers such as Samsung and Micron, which are also investing heavily to expand capacity amid strong demand for AI-related semiconductors.