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SK hynix Halts Solidigm US IPO Review
SK hynix has decided to suspend its review of a potential U.S. IPO and pre-IPO fundraising for Solidigm, its U.S.-based NAND flash subsidiary, citing volatile capital markets and recent semiconductor stock price trends. The company announced the decision on Oct. 23, stating it had been considering various funding options for Solidigm's capacity expansion and competitiveness but decided to halt the review after comprehensively considering market conditions. Yonhap reports the move comes amid concerns from Korean shareholders about potential undermining of protections for investors in SK hynix's Korean listing, with some calling for regulators to intervene in a possible Nasdaq listing. Korean media note the decision follows a 'dual listing' controversy, and that SK hynix's stock price fell below 1.2 million won in pre-market trading despite the halt announcement.
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