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SK Hynix Nasdaq debut puts ADR listing effects in focus

SK Hynix is set to enter the Nasdaq market on July 10 local time, raising expectations for a broader global investor base and a re-rating of its value. The company priced 177.9 million ADS at $149 each, for proceeds of about $26.5 billion, by issuing 17.79 million new common shares. Trading starts conditionally under SKHYV and switches to SKHY. Analysts note possible dilution and demand dispersion, and say past ADR cases did not guarantee long-term share gains.