SK Hynix’s US Listing Countdown Begins; $30 Billion Fundraising Could Trigger Valuation Reassessment

Odaily reports that according to US media, SK Hynix is expected to issue American Depositary Receipts on the Nasdaq on July 10. The listing aims to raise nearly $30 billion, potentially becoming one of the largest ADR offerings in history. The market generally believes this move will significantly expand its global investor base and could drive a valuation reassessment.

Multiple asset management firms anticipate that if its valuation converges with that of Micron, the stock price could have 30% upside over the next year. One fund manager noted that SK Hynix should trade at least at a valuation comparable to Micron, given that demand for memory chips may continue to outpace supply for several years. This listing is taking place during a rare boom period for the memory chip industry. Shares of Micron, SK Hynix, and Samsung Electronics have all risen over 200% this year, marking their best annual performance in decades. The AI server demand for HBM is widely seen as the driving force behind a structural "memory super cycle." (Jin10)