STOCKS | SK Hynix Plans Nasdaq Depositary Receipt Offering at $166 Per Share

SK Hynix plans to issue depositary receipts on the Nasdaq Global Select Market at $166 per share, aiming to raise about $29.4 billion. According to Odaily, institutional analysts said U.S. investors buying at that price would be purchasing the stock at a discount. The analysts expect SK Hynix’s share price could rise 20% and narrow its valuation gap with competitor Micron Technology.