SK hynix's potential Solidigm IPO conflicts with shareholder protection rules: watchdog chief
Korean regulators believe SK hynix’s potential listing of its NAND flash memory subsidiary Solidigm in the United States would run counter to rules governing listings of both parent companies and their subsidiaries, Financial Supervisory Service (FSS) Gov. Lee Chan-jin said Monday. “We are continuing to monitor the Solidigm issue. Both the Financial Services Commission (FSC) and the FSS consider…
Korean regulators are concerned that SK hynix's potential listing of its NAND flash memory subsidiary Solidigm in the United States could violate rules governing the listing of both parent companies and their subsidiaries, Financial Supervisory Service (FSS) Governor Lee Chan-jin stated on Monday. Lee emphasized that both the Financial Services Commission (FSC) and the FSS view the situation as conflicting with the established rules.
He made these comments in response to Rep. Park Sung-hoon from the main opposition People Power Party during a National Assembly audit. Park had accused SK hynix of not keeping domestic shareholders adequately informed while explaining the matter to the U.S. Securities and Exchange Commission regarding the potential listing of a subsidiary and its potential impact on the parent company's share price.
Solidigm, which was established in the United States through SK hynix's $9 billion acquisition of Intel's NAND flash memory business, has reportedly not made any final decision on an initial public offering (IPO) but continues to explore methods to enhance its competitiveness. Nevertheless, there are widespread expectations for a potential stock listing.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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