SK hynix shares were strong early on the 10th. Buying picked up on news that the company is reviewing issuing depository receipts (ADR) to list on the U.S. stock market.
As of 9:43 a.m., SK hynix was trading at 584,000 won on the Korea Exchange, up 18,000 won (3.18%) from the previous session.
Before the regular session opened, SK hynix said in response to an inquiry disclosure request, "We are reviewing various measures to enhance corporate value, including listing on the U.S. stock market using treasury shares, and nothing has been finalized so far."
If ADRs are issued, U.S. investors can indirectly trade the shares, effectively enjoying the benefits of a U.S. listing.
Some say SK hynix is undervalued compared with U.S. rival Micron, and issuing ADRs is expected to allow the company's value to be reassessed in overseas markets.