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…
South Korean authorities are concerned that SK hynix's potential listing of its NAND flash memory subsidiary, Solidigm, in the United States may violate listing rules for both the parent company and its subsidiary, 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 issue as incompatible with those regulations.
In response to Representative Park Sung-hoon of the main opposition People Power Party during a National Assembly audit, Lee addressed Park's concern that SK hynix had failed to adequately inform domestic shareholders while discussing the U.S. Securities and Exchange Commission's concerns about the potential adverse impact on the parent company's share price due to listing a subsidiary.
SK hynix, which acquired Intel's NAND flash memory business through its $9 billion acquisition of Solidigm, has not officially announced a decision on an initial public offering (IPO), stating that the subsidiary is exploring ways to enhance its competitiveness. Nevertheless, there remain expectations for a stock market listing for Solidigm.
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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