Sk Hynix Surges 12 As Us Listing Plan Boosts Valuation Hopes
Economic Times
SK Hynix shares surged as much as 12% after the memory chipmaker unveiled plans for a $29 billion US listing, boosting hopes of higher valuations and greater foreign investor participation.
The company plans to use the proceeds to expand capacity and acquire advanced chipmaking equipment. Rival Samsung also gained after Micron issued a strong sales forecast, lifting Korea’s Kospi index.
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