SK hynix halts review of US stock market listing of Solidigm

Solidigm, a NAND flash memory subsidiary of SK hynix, has halted its review of potential pre-IPO and IPO options, according to a statement released on Friday. The decision comes as financial markets have become increasingly volatile, with semiconductor stocks facing a correction. Despite solid business performance, the fluctuating market conditions have led Solidigm to discontinue its evaluation of these options, SK hynix reported.

Prior to this decision, Solidigm had reportedly been considering a U.S. IPO valued at up to $150 billion, which was intended to provide funding for U.S. production facilities and technology development. The company saw the listing as a solution to address the growing demand for enterprise SSDs (eSSDs) in AI data centers. However, the potential IPO had raised concerns regarding its impact on SK hynix's shareholder value and regulatory aspects.