SEOUL, July 8 (Reuters) – South Korean AI chip startup Rebellions aims to list its shares on the Korean market in the first half of next year, followed by a potential listing in the United States, its co-founder and chief executive Park Sunghyun told Reuters on Wednesday.
“Our priority right now is Korea market,” he said.
“Then you can go to U.S. market using the ADR just as how SK Hynix is planning,” he said, referring to the American Depositary Receipts (ADR), which allow U.S. investors to easily buy shares of foreign companies directly on U.S. stock exchanges.
South Korean chipmaker SK Hynix launched a U.S. share sale to raise 43 trillion won ($28.07 billion), as it capitalises on the global AI boom with one of the world’s largest new share sales.
Park said Rebellions will prepare all the paperwork by the end of this year, and depending on the market, it will go public in the first quarter or second quarter of next year.
“We see the market volatility,” he said.
He said the underwriter would be JP Morgan.
(Reporting by Hyunjoo Jin; Editing by Christopher Cushing and Raju Gopalakrishnan)
