STOCKS | SK Hynix Starts US Listing Marketing; Broadcom Expands Apple Chip Deal

Korean-listed shares of SK Hynix (000660 KS) fell after the chipmaker began the formal marketing process for its US listing on Friday, according to Bloomberg. The company is seeking to sell American depositary receipts representing about 17.79 million common shares. Broadcom (AVGO) shares slipped ahead of the US open after it said it will provide custom chips for Apple Inc. (AAPL) under an expanded deal running through 2031, with Broadcom set to develop custom ASIC chips. Honeywell spinoff Solstice Advanced Materials (SOL) and Element Solutions (ESI) rose in premarket trading after the Financial Times reported the firms are in talks to merge, citing people familiar with the matter. The report said discussions are ongoing and a deal could come together as soon as this week.