SK Square hit an all-time high early in the session on the 23rd on news that subsidiary SK hynix will issue U.S. depository receipts (ADR).
As of 9:39 a.m., SK Square was trading at 2,103,000 won, up 133,000 won (6.75%) from the previous session on the main bourse.
SK Square shares at one point in early trading soared to 2,189,000 won, setting an intraday record high.
SK Square's share price appears to be continuing a steep rally as the market reassesses the value of its holdings. SK Square is a holding company that has secured a 20.5% equity stake in SK hynix.
Expectations in the market that SK hynix's shareholder return policy will be further strengthened are also cited as a factor pushing up the stock.
In the securities industry, the view is that SK hynix will increase dividends after completing the issuance of U.S. ADR.
In the industry, some expect that as early as the end of next month SK hynix's U.S. depository receipts (ADR) will be listed.
An Jae-min of NH Investment & Securities said, "After the issuance of SK hynix's per-share dividend (ADR), its shareholder return policy will be strengthened," adding, "If SK hynix's DPS expands to 13,000 won, SK Square will obtain 1.9 trillion won in dividend revenue, and it is expected to embark on active mergers and acquisitions (M&A) through this."