Trust the source, not just the story
Channel NewsAsia
Channel NewsAsia
AsiaPac · 9 mins ago
Dollar-selling linked to SK Hynix share offer sends won to over 1-month high, source says
SEOUL, July 8 : Dollar-selling related to a U.S. share sale by South Korean chipmaker SK Hynix emerged in the country's dollar-won forwards market on Wednesday, sending the won to a more than one-month high, a source familiar with the matter told Reuters. "There is forward selling related to SK Hynix American depository receipts (ADR) today," the source said, declining to be identified due to the sensitivity of the matter. Earlier this week, SK Hynix launched a U.S. share sale to raise 43 trillion won ($28.66 billion), drawing indications of interest worth as much as $7 billion from major investors as it rides the AI boom in one of the world's largest equity offerings.SK Hynix is expected to bring U.S. dollars into the country by around July 15, converting a part of the funds it raises in
Channel NewsAsia
Do you trust Channel NewsAsia?
Sign in to rate
Discussion 0 comments
Sort:
?

No comments yet — be the first to start the discussion!