Asian tech stocks seek high valuations in the U.S., with ADR issuance reaching a new high since 2020

Citigroup expects that as technology companies seek to increase their valuations, more Asian companies will issue stocks in the United States. So far this year, Asian companies have issued approximately $28 billion in American Depositary Receipts (ADRs), setting a new high since 2020.

SK Hynix's $26.5 billion listing accounted for the majority, while PayPay's initial offering contributed $1 billion.