SK Hynix, a major memory-chip manufacturer, announced plans to issue American depository receipts. The move aims to simplify investment in the company for U.S.-based investors.
The depository receipts will be listed on the Nasdaq. This listing will provide American investors with a more accessible way to trade SK Hynix shares.
SK Hynix has seen substantial growth recently. The demand for artificial-intelligence applications has driven a surge in the company’s value.
The company is one of the three leading memory-chip makers globally. Its technology is critical for AI systems that require high-performance memory.
The announcement was made on Wednesday. No specific timeline for the listing was provided.
The depository receipts will trade in U.S. dollars. This eliminates the need for investors to handle foreign currency transactions.
The listing could increase SK Hynix’s investor base in the United States. It offers a familiar trading platform for many American shareholders.
