POPA ReconSK Hynix ADR Premium Balloons to 51% Over Korean Shares
SK Hynix ADR Premium Balloons to 51% Over Korean Shares (Bloomberg) -- The premium for SK Hynix Inc. American depositary receipts over their Korean-listed shares soared to more than 50%, just three days after making their US trading debut. The ADRs gained 27% on Tuesday, more than recovering from a 9.3% drop a day earlier when a record selloff in South Korea bled into the US session. That’s pushed their premium over the Seoul-traded common shares to 51%, according to data compiled by Bloomberg, far above the 3% gap they priced at last week during their $26.5 billion offering. Each SK Hynix AD…
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