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Industry

SK hynix set to raise up to 43 trillion won from Nasdaq ADR listing

SK hynix is set to list American depositary receipts on Nasdaq on July 10 local time, aiming to raise up to about 43 trillion won, or around $28 billion. It will issue 17.79 million new ADRs under a 10-to-1 structure, trading as SKHY. Strong institutional demand has been reported. The company plans to use proceeds for major facility investment including fabs, advanced packaging and EUV tools, while pursuing shareholder returns.

Crypto

Kalshi seeks funding at $40 billion valuation

U.S. prediction market platform Kalshi is seeking to raise new funds at a valuation of $40 billion. The investment could be completed as soon as the third quarter of this year. If the deal goes through, Kalshi’s valuation would rise to nearly double from $22 billion in May, when it raised $1 billion in a Series F round led by Coatue Management with participation from Andreessen Horowitz, Sequoia Capital, Morgan Stanley and Ark Invest.

Crypto

Kalshi annualised revenue tops $2 billion, IPO talks begin

Kalshi’s annualised revenue has surpassed $2 billion, The Information reported on June 18, about triple the level in November. The report attributed the growth to a surge in betting volume tied to the NBA and the World Cup. Kalshi management has begun informal talks with investment banks with an initial public offering in mind, the report said, and has set platform integration as a condition for advisory work.