SK Hynix expects to issue ADRs on Nasdaq on July 10, targeting nearly $30 bln in proceeds in what could be one of the largest ADR offerings on record. Market participants say the deal should broaden its global investor base and could trigger a valuation re-rating; several asset managers see roughly 30% upside over the next year if SK Hynix trades at multiples comparable to Micron. A fund manager said SK Hynix should at least trade in line with Micron given forecasts that memory demand will outst

SK Hynix expects to issue ADRs on Nasdaq on July 10, targeting nearly $30 bln in proceeds in what could be one of the largest ADR offerings on record. Market participants say the deal should broaden its global investor base and could trigger a valuation re-rating; several asset managers see roughly 30% upside over the next year if SK Hynix trades at multiples comparable to Micron. A fund manager said SK Hynix should at least trade in line with Micron given forecasts that memory demand will outstrip supply for several years. The listing comes amid an unusually strong memory cycle: Micron, SK Hynix and Samsung shares are up over 200% YTD, with AI server demand for HBM cited as the chief structural driver.