SK Hynix’s countdown to a U.S. listing: $30 billion in fundraising could drive a valuation reassessment

Shenchao TechFlow News: On June 25, according to reports from U.S. media, SK Hynix is expected to issue American Depositary Receipts (ADRs) on Nasdaq on July 10. The planned listing aims to raise nearly $30 billion and could become one of the largest ADR offerings in history. The market generally believes this move will significantly expand its global investor base and may drive a valuation reassessment. Several asset management firms expect that if its valuation moves closer to Micron’s, there could be 30% upside in its stock price over the next year.

A fund manager noted that SK Hynix should trade at a valuation level at least comparable to Micron’s, because demand for storage chips may continue to exceed supply for years to come. This listing is taking place during a rare boom period in the memory chip industry. The stock prices of Micron, SK Hynix, and Samsung Electronics have all risen by more than 200% this year, marking their best annual performance in decades. The demand for HBM from AI servers is widely viewed as a key driver of a structural “memory supercycle.” (Jin10)