Dollar-selling activity related to SK Hynix's U.S. share sale pushed the South Korean won to a more than one-month high against the dollar. The company's American Depositary Receipt (ADR) sale was oversubscribed by more than seven times prior to pricing. SK Hynix is now set to repatriate over $26 billion from the share sale proceeds over the coming month.
SK Hynix is set to bring home over $26 billion from share sale proceeds next month, a massive liquidity event expected to drive significant KRW volatility.
Read the full storyThe South Korean chipmaker's ADR sale saw massive institutional appetite, being oversubscribed by more than seven times ahead of final pricing.
Dollar-selling flows linked to the chipmaker's U.S. share offering triggered a surge in the won's value within the forwards market.