Serenity: SK Hynix ADR Convertible to KRW-Denominated Shares Starting July 29th, with Over 25% Premium or Discount

BlockBeats News, July 19th, Serenity announced that SK Hynix's American Depositary Receipt (SKHY) is currently trading at a premium of over 25% compared to its Korean domestic stock. The two types of stocks will be convertible between each other starting on July 29th.

It is believed that the conversion mechanism will create conditions for arbitrage trading and may narrow the ADR premium. This could result in a rise in Korean domestic stock prices or downward pressure on the American ADR.

Serenity stated that currently the American ADR corresponds to approximately 2.5% of the shares, with about 22.5% of the shares eligible for conversion at that time.