SK Hynix’s U.S.-listed ADR moved lower in premarket trading on July 15, trimming the gap with the company’s Seoul-listed shares. According to market data from BIT (bit.com), the ADR, traded under ticker SKHY, was down 5.8% in premarket and changed hands at $182.6. Bitget data showed SK Hynix shares in South Korea closed at 2,082,000 won, or about $1,397.
Based on the conversion that one SK Hynix ADR represents one-tenth of an ordinary share, the equivalent value of the Korean stock comes to $139.7 per ADR unit. That puts the U.S. ADR at a 30.7% premium to the underlying share value. The premium had been 51.5% at the close of the U.S. market earlier in the day, meaning the spread narrowed sharply in premarket trading. The figures cited were attributed to BIT and Bitget market data in a BlockBeats report.
SK Hynix’s U.S.-listed ADR premium over its Seoul-listed shares narrowed to 30.7% on July 15, according to market data cited by BlockBeats.
Data from BIT (bit.com) showed SK Hynix’s ADR, traded under ticker SKHY, fell 5.8% in U.S. premarket trading to $182.6.
Bitget market data showed SK Hynix shares in South Korea closed at 2,082,000 won on the day, equivalent to about $1,397.
Using the stated conversion that each SK Hynix ADR represents one-tenth of an ordinary share, the Korean share price translates to $139.7 on a per-ADR basis, or one-tenth of $1,397. At $182.6, the ADR was trading at a 30.7% premium to that level, down from a 51.5% premium at the U.S. market close earlier in the morning.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
