- SEC approval could come in the week of June 22, source says
- Listing would expand investor base
- AI boom fueling demand for chip stocks
SEOUL/SINGAPORE, June 10 (Reuters) - SK Hynix plans to list its shares in the U.S. as soon as August, said two sources familiar with the matter, as the South Korean memory chipmaker seeks to capitalise on strong appetite for AI-linked stocks and broaden its investor base.
The U.S. Securities and Exchange Commission is likely to approve SK Hynix's American depositary receipt listing application during the week of June 22, one of the sources said.
Both sources declined to be identified as the information was not public.
"SK Hynix plans to issue ADRs within 2026, but the details, including the size and timing, have not yet been decided," SK Hynix said in a statement. The SEC was not immediately available for comment outside business hours.
SK Hynix said in March it had confidentially filed for a U.S. listing. A source said at the time that the offering could raise as much as $14 billion.
The company, the world's second-largest memory chipmaker and a key supplier to Nvidia, has been one of the biggest beneficiaries of the AI boom due to its dominant position in high-bandwidth memory chips used in AI servers.
Its share price has jumped 240% this year and its market value has since May topped $1 trillion, making it only the third Asian company after Taiwan's TSMC and Samsung Electronics to hit the milestone.
Reuters reported last week that SK Hynix had received "tremendously positive" feedback on the plan, citing strong AI demand and its competitive position in the memory-chip market.
An August debut would also add another marquee name to what is shaping up to be a busy second half for U.S. equity markets, as investors closely watch a pipeline of AI-related listings including OpenAI and Anthropic, as well as SpaceX's blockbuster IPO.
Reporting by Heekyong Yang in Seoul and Yantoultra Ngui in Singapore; Editing by Sumeet Chatterjee and Edwina Gibbs
Source: Reuters