Korea / Special Situations, Clepsydra Capital

Sanghyun Park

I investigate special situations in Korea.

Korea / Special Situations

Backstory on Hynix’s ADR Issuance Structure: Staged Buyback Still Needed for Additional 3%

SK Hynix(000660 KS) Tactical Outlook Ahead of ADR Listing Announcement on Mar 25

Hynix ADR Listing’s Biggest Mystery: Math Behind US Institutional Inflows

Check on the Setup Suggesting Hynix Could Start ADR Moves Right After the AGM on the 25th

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>Hynix will likely present ADR plans at the March 25 AGM. Chey Tae-won’s GTC comments signal the internal decision is done; timing and optics are now the focus.</li>
<li>March 25 AGM is ideal for Hynix ADR: timing aligns with HBM4 Q2 validation to capture post-milestone valuation uplift.</li>
<li>Once Hynix announces the ADR, staged 5% buybacks provide strong support, setting up short-term outperformance versus Square, fueled by buyback demand and anticipatory positioning ahead of U.S. passive flows.</li>
</ul>


Hynix will likely present ADR plans at the March 25 AGM. Chey Tae-won’s GTC comments signal the internal decision is done; timing and optics are now the focus.
March 25 AGM is ideal for Hynix ADR: timing aligns with HBM4 Q2 validation to capture post-milestone valuation uplift.
Once Hynix announces the ADR, staged 5% buybacks provide strong support, setting up short-term outperformance versus Square, fueled by buyback demand and anticipatory positioning ahead of U.S. passive flows.


Take on Chey Tae-Won’s Remarks About the Hynix ADR Play