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SK Hynix limits US deposit transfers
SK Hynix has begun procedures to convert and cancel its American depository receipts (ADRs) through Citigroup, which restricts investors' ability to freely issue new certificates. This measure has limited the conversion ratio to 2.5% of the total shares, leading to a reduction in arbitrage opportunities between the U.S. and Korean markets. As a result, the premium on American stocks has remained around 22% at the last closing, with this premium continuing to be supported by strong investment momentum in the artificial intelligence sector. The company's situation is similar to major technology firms whose shares trade at premium prices despite conversion restrictions and inclusion in global indices.
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