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SK Hynix aims to go public in the United States within the year
Korean storage-chip giant SK hynix said Wednesday that it has begun taking steps to pursue a listing on U.S. stock exchanges.
In a regulatory filing, the company said that the day before, it submitted a “confidential application” to the U.S. Securities and Exchange Commission (SEC), with the goal of listing its American depositary receipts (ADRs) on a U.S. securities exchange by the end of the year.
The company said that the listing size, timetable, and other details have not yet been determined, adding that the final decision will mainly depend on market conditions. It also said that the ultimate decision will be made by the SEC.
SK hynix said it plans to file the relevant regulatory application again within six months, and that it may submit it earlier if circumstances change further.
Earlier, according to The Korea Economic Daily, SK hynix was considering raising 100 trillion to 150 trillion won (about $10.03 billion) through a U.S. listing, aiming to expand the capacity of its advanced memory chips.
Listing in the U.S. would give the Nvidia supplier access to a broader pool of funding and help narrow the valuation gap between it and global peers such as Micron.
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Responsible editor: Yu Jian SF069