SK Hynix drops US IPO plan for Solidigm, newspaper reports
SK Hynix has abandoned plans to take its US-based NAND flash memory and solid-state drive subsidiary, Solidigm, public, according to South Korean media reports. The decision, which was reported by the Korea Economic Daily, was based on unnamed industry sources. SK Hynix has not yet commented on the matter. The news follows weeks of review by SK Hynix of various strategies to boost Solidigm's competitiveness, though no final decisions have been made yet.
Solidigm, headquartered in Rancho Cordova, California, is a key subsidiary of South Korea's SK Hynix Inc.
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