SK Hynix says Solidigm suspends review of US IPO, citing market volatility
SMH•SK Hynix suspended its review of a US IPO for its Solidigm subsidiary, citing market volatility and share price trends. The potential listing had been reported to raise as much as $15 billion.
1. IPO review suspended
SK Hynix said it had suspended its review of a US initial public offering for Solidigm, citing financial market volatility and share price trends. The company said the decision did not reflect a change in Solidigm’s growth prospects or investment needs, and it would continue to explore ways to fund the subsidiary’s expansion.
2. Market and regulatory pressures
SK Hynix said increased volatility and a broader correction in semiconductor stocks prompted it to reconsider the listing. Its shares had fallen more than 30% since the potential IPO was reported in late September, compared with a 20% decline in South Korea’s benchmark KOSPI index. The decision also followed scrutiny from South Korean regulators over whether the listing would require a review under domestic dual-listing rules.
