SK Hynix revealed on Wednesday its plans to list American Depositary Receipts (ADRs) on the U.S. stock market in the latter half of this year.
At the annual shareholders’ meeting in Icheon, Gyeonggi Province, SK Hynix Chief Executive Officer (CEO) Kwak No-jung stated that it is aiming for a listing in the second half of 2026 and are making the necessary preparations.
When asked about the scale of the stock issuance, Kwak explained that the details regarding size and method are yet to be finalized, making it premature to provide specifics.
During the meeting, Kwak outlined the company’s business environment and strategies for the year. He emphasized that the memory market is poised for unprecedented growth in the artificial intelligence (AI) era. To capitalize on this opportunity alongside the global partners, it needs to bolster the financial position. Kwak announced an ambitious goal: It is targeting to secure over 100 trillion KRW (approximately 66 billion USD) in net cash. This substantial war chest, he explained, would enable strategic investments to enhance competitiveness and expand production infrastructure.
Addressing the rationale behind the U.S. ADR listing, Kwak described it as a strategic move to reassess the company’s value in the world’s largest stock market.
Responding to concerns about potential dilution of existing shareholders’ equity due to new stock issuance, Kwak assured that it is exploring various options to ensure returns for the shareholders.
He further justified the need for cash reserves, stating that to maintain consistent performance regardless of market volatility, it requires a certain level of liquidity. Even with this increase, the cash position will still lag significantly behind major global competitors.