SK hynix halts review of US stock market listing of Solidigm
Solidigm, SK hynix’s NAND flash memory subsidiary, has decided to halt its review of potential pre-IPO fundraising and initial public offering (IPO) options, citing volatile capital markets and recent trends in semiconductor stock prices, SK hynix said Friday. "While SK hynix and Solidigm continue to deliver solid business performance, financial market volatility has increased, contributing to a…
SK hynix, a NAND flash memory company, has informed that its subsidiary, Solidigm, has ceased its evaluation of potential pre-IPO and IPO options. This decision was influenced by the volatile capital markets and recent fluctuations in semiconductor stock prices, according to SK hynix's latest statement. Despite Solidigm maintaining strong business performance, financial market instability has led to a greater correction in semiconductor stocks, as reported by SK hynix.
After a thorough examination of these business conditions, Solidigm has opted to abandon its review of pre-IPO and IPO possibilities. There were rumors that Solidigm, under SK hynix, was contemplating a U.S. IPO by next year, potentially valuing the company at up to $150 billion. This listing was anticipated to provide funding for U.S. production sites and technology advancement, driven by the rising demand for enterprise SSDs (eSSDs) for AI data centers.
However, the possibility of the listing raised questions about its effect on SK hynix's shareholder value and regulatory considerations.
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.
This story
This is one outlet's version. Read the fullest account.
- SK Hynix scraps Solidigm US IPO after shareholder opposition, ‘duplicate listing’ concerns businesstimes.com.sg
- SK hynix Halts Solidigm U.S. IPO Review, Responding to Shareholder Concerns businesskorea.co.kr
- (LEAD) SK hynix halts review of Solidigm U.S. IPO en.yna.co.kr
- SK hynix halts review of US stock market listing of Solidigm koreatimes.co.kr
- SK Hynix drops US IPO plan for Solidigm, newspaper reports channelnewsasia.com
- SK Hynix drops US IPO plan for Solidigm, newspaper reports investing.com
