UBS: Buy SK Hynix's upcoming ADRs and sell its Seoul-listed shares

```htmlGolden Finance July 7th丨UBS Group stated that investors should buy the American Depositary Receipts (ADR) planned to be issued by SK Hynix and sell the chip manufacturer's Korean-listed stocks, as the former may enjoy a premium during trading. The sales and trading department of this Swiss bank pointed out in a report to clients that, for investors such as hedge funds, these ADRs could be more attractive than Korean stocks because they are more efficient and have lower costs. The report also noted that some global portfolio managers who do not hold its Seoul-listed stocks may also be able to purchase these U.S. securities. “Going long its ADR from day one and shorting its Korean stocks seems like there’s no reason to hesitate,” UBS’s report said. “Given that ADR discount is unlikely to occur, the risk is very limited, so this is a trade that can be executed on a large scale.”```