Business
SK Hynix’s stock bets on new ADRs
SK Hynix’s American depositary receipts surged 14% above their offering price, after the South Korean memory chipmaker raised $26.5 billion in the largest-ever US listing by a foreign company. The ADRs opened at $170 each on Friday in New York, versus an offering price of $149 apiece.
SK Group Chairman Chey Tae-won says he expects to deliver on investors’ expectations.
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