Search results for American depositary receipt
Mobility
Kakao blocks Kakao Mobility U.S. listing plan as Tesla nears FSD V15 unsupervised driving
Tesla has opened its first dedicated plant in Sparks, Nevada, to mass-produce its Semi electric truck, targeting annual output of up to 50,000 units. Expectations around Tesla’s self-driving technology rise as its in-car AI mentions possible unsupervised driving with FSD V15, while approval across Europe is delayed again. In South Korea, Kakao has moved to block a U.S. ADR listing plan for Kakao Mobility, citing concerns it would mainly aid TPG’s stake liquidity.
Finance
SK Hynix ADR falls below IPO price; SpaceX also slumps after listing
SK Hynix’s U.S.-listed American depositary receipt has fallen below its IPO price, while SpaceX has also slipped under its offering level, adding to concerns about lofty valuations for newly listed U.S. stocks. SK Hynix’s ADR closed down 7.47 percent at $143.02, below its $149 IPO price. A semiconductor sector pullback and oversupply worries tied to AI infrastructure investment weighed on shares.
Finance
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.
