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SK Hynix Prepares Nasdaq Listing at $166 per ADR, HSBC Sees 38% Upside Target

GateNews
Stocks
According to HSBC analysts and regulatory filings revealed this week, South Korean chipmaker SK Hynix is planning to list on Nasdaq at $166 per American depositary receipt (ADR) share, targeting to raise $29.65 billion. The company is scheduled to start trading on July 10, with plans to issue 17.79 million new shares. HSBC upgraded its price target for SK Hynix from 2.9 million won to 4 million won, representing a 38% uplift, applying a 20% premium to reflect improved accessibility to global investors and more proactive shareholder-friendly initiatives. The bank expects the U.S. listing to help SK Hynix narrow a historical valuation gap with U.S. rival Micron Technology, which has traded at an average 35% premium over the past 13 years.
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