UBS: buy SK Hynix ADRs, sell Seoul-listed shares
UBS recommends buying SK Hynix's planned American depositary receipts (ADRs) while selling the chipmaker's Seoul-listed shares, arguing the new securities will trade at a premium. SK Hynix is one of the world's largest makers of DRAM and NAND memory chips. The trade is an arbitrage play on the expected price gap between the two listings.
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