SK hynix Inc. said Wednesday it has begun taking steps for listing on the U.S. stock market as the chipmaker aims to improve access to global investors amid its artificial intelligence (AI) drive.
The South Korean chipmaker filed a "confidential submission" to the U.S. Securities and Exchange Commission (SEC) the previous day, with a goal to have its American depositary receipts (ADRs) listed on the U.S. stock exchange within the year, it said in a regulatory filing.
"We are preparing with the goal of listing in the second half," Chief Executive Officer (CEO) Kwak Noh-jung said during a general shareholders meeting in Icheon, some 50 kilometers southeast of Seoul.
"As the issuance size and method have not yet been finalized and the listing review process has begun, I cannot disclose specific details in accordance with domestic and international laws and regulations," he said. "We plan to proceed in a way that helps enhance shareholder value."
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