By Heekyong Yang and Yantoultra Ngui<\/p>\n
SEOUL\/SINGAPORE, June 12 (Reuters) – South Korean memory chipmaker SK Hynix is looking to choose the Nasdaq for its planned U.S. listing, two sources familiar with the matter \u200csaid, opting for the technology-heavy bourse to capitalize on investor appetite for AI-linked stocks.<\/p>\n
The planned listing \u200cas early as August comes after a 230% surge in SK Hynix’s share price this year, lifting its market value above $1 trillion in \u200bMay. The U.S. listing is expected to broaden the company’s investor base and raise its profile among global investors.<\/p>\n
The company selected Nasdaq over the New York Stock Exchange, said the sources, who declined to be identified because the information was not public.<\/p>\n
SK Hynix declined to comment. Nasdaq was not immediately available for comment outside business hours.<\/p>\n
Nasdaq is home to \u200cmany of the world’s largest technology firms \u2060and chipmakers, including Nvidia<\/a>, Microsoft<\/a>, Amazon.com and Alphabet as well as SK Hynix’s smaller rival, Micron .<\/p>\n Memory-chip stocks have sharply outperformed this year, with Micron up about 248% and the Nasdaq \u2060Composite gaining around 11%.<\/p>\n The exchange was also the preferred listing venue for Elon Musk’s rocket and AI company SpaceX, which is set to begin trading later on Friday.<\/p>\n BETTING ON AI-LED VALUATIONS<\/p>\n As the world’s second-largest memory chipmaker and a key supplier to \u200bNvidia, \u200bSK Hynix has been a major beneficiary of the AI \u200bboom due to its dominant position in high-bandwidth \u200cmemory chips used in AI servers.<\/p>\n Reuters has reported that SK Hynix received “tremendously positive” feedback on the U.S. listing plan, citing strong AI demand and its competitive position in the memory-chip market.<\/p>\n Analysts said Nasdaq has historically assigned higher valuations to technology and growth companies than the NYSE, and SK Hynix might have chosen Nasdaq in part by looking at peer Micron’s valuation.<\/p>\n “Passive investment funds now account for a larger share of global investment flows than active funds, \u200cwith a significant portion of those passive flows concentrated in \u200bNasdaq-listed stocks, making the exchange particularly attractive for technology companies seeking \u200bto broaden their investor base,” said Kim Sunwoo, \u200ba senior analyst at Meritz Securities.<\/p>\n Passive funds track stock indexes rather than selecting individual stocks, \u200cand many technology-focused indexes and ETFs are heavily \u200bweighted toward Nasdaq-listed companies.<\/p>\n SK Hynix \u200bsaid in March it had confidentially filed for a U.S. listing. A source said at the time that the offering could raise as much as $14 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"By Heekyong Yang and Yantoultra Ngui SEOUL\/SINGAPORE, June 12 (Reuters) – South Korean memory chipmaker SK Hynix is…\n","protected":false},"author":2,"featured_media":50761,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[31,29170,2068,29171,275,33],"class_list":["post-50760","post","type-post","status-publish","format-standard","has-post-thumbnail","category-south-korea","tag-korea","tag-listing","tag-nasdaq","tag-new-york-stock-exchange","tag-sk-hynix","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/50760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=50760"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/50760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/50761"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=50760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=50760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=50760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}