Why SK Hynix listed in the US? SK Hynix Inc. TEMPBATS:SKHYVBlackBull_MarketsSK Hynix’s Nasdaq listing raised US$26.5 billion last week, the largest US listing by a foreign company. Its shares have since risen more than 15.5% above the US$149 offering price. The proceeds will support the chipmaker’s growing capex, which is expected to reach up to US$50 billion annually over the next two years. However, most of this spending is expected to be funded through internal cash flow. In its latest quarter, SK Hynix reported revenue growth of 198%, reaching approximately US$35 billion. So why list in the US? The listing strengthens SK Hynix’s ability to fund future expansion and capex. This may become increasingly important as Samsung, SanDisk and Micron invest heavily in high-bandwidth memory chips and attempt to narrow SK Hynix’s lead. Can SK Hynix close the valuation gap with Micron? Despite its strong market position, SK Hynix continues to trade at a discount to Micron. That gap may begin to narrow as the listing and its profile as Nvidia’s largest memory partner increases.