Seoul: SK hynix Inc. has announced that it is initiating steps to list on the U.S. stock market as part of its strategy to enhance access to global investors, particularly in light of its focus on artificial intelligence (AI) advancements. The South Korean chipmaker revealed that it had submitted a "confidential submission" to the U.S. Securities and Exchange Commission (SEC) a day prior, aiming to have its American depositary receipts (ADRs) listed within the year.

According to Yonhap News Agency, ADRs are securities traded on the U.S. stock market, allowing shares of foreign firms to be accessible to U.S.-based investors without requiring a full listing of common shares. SK hynix noted that while the specific details such as the size and schedule of the listing process are yet to be confirmed, these will depend significantly on market conditions. The final approval will be determined by the SEC.

Industry analysts suggest that SK hynix's decision to pursue a U.S. listing could significantly expand its funding opportunities in international markets. The company has also indicated plans to make another related regulatory filing within the next six months, or sooner, should there be additional developments.