KOREAN LOCAL MEDIA: ARBITRAGE BETWEEN SK HYNIX’S KOREAN-LISTED COMMON SHARES AND NASDAQ-LISTED SKHY IS CURRENTLY MALFUNCTIONING
According to the Korea Securities Depository, actual applications for two-way conversion will only become possible after July 29, when the newly issued Korean common shares corresponding to the ADR offering are listed domestically.
The KSD stated, “Applications for conversion between SK hynix’s underlying common shares and ADRs are expected to become available only after July 29, the scheduled domestic listing date of the underlying shares.”
It added that the actual conversion timetable will be announced in accordance with instructions from the DR depositary, Citibank.
$SKHY