SK Hynix is poised to submit the necessary filing documents for American Depositary Receipts (ADRs) to South Korea's financial regulatory body, marking a significant step forward in its pursuit of a U.S. listing. Earlier reports had suggested that the ADR issuance could raise up to USD 10 billion. However, given the recent substantial surge in its stock prices, industry analysts now estimate that the fundraising potential could soar to as much as KRW 40 trillion (equivalent to approximately USD 26 billion). This figure is on par with the amount Alibaba secured during its U.S. listing back in 2014.

As part of its strategy, SK Hynix intends to issue shares in South Korea and then deposit these shares with the Korea Securities Depository. These deposited shares will serve as the underlying securities for the ADRs. The review process by South Korean regulators is anticipated to wrap up by July 3, paving the way for the trading of the relevant ADRs to potentially commence as early as next month.

SK Hynix first unveiled its ADR listing ambitions in March, with the goal of going public in New York during the latter half of the year.