SK Hynix drops Solidigm US IPO plan

SK Hynix has decided not to pursue a US initial public offering of Solidigm, the South Korean chipmaker’s NAND flash business, industry sources said in a report dated Friday, Oct. 23.

Market reaction was pending. The report gives investors a narrower set of near-term equity events for Solidigm, which SK Hynix owns after expanding in NAND flash, a memory segment more exposed to consumer electronics and storage demand than high-bandwidth memory.

SK Hynix

The reported decision would leave SK Hynix with the option of keeping Solidigm within the group rather than testing US public markets for a separate valuation. No deal size, listing timetable or target valuation was included in the supplied material.

SK Hynix did not immediately respond to a request for comment, according to the report. The sourcing was based on unnamed industry sources, leaving the company’s formal position and the financial rationale unconfirmed.

If SK Hynix later confirms the plan has

For equities investors, the mechanism is straightforward: without a US IPO, SK Hynix would not receive any near-term listing proceeds from Solidigm and would keep direct exposure to the unit’s earnings path. If SK Hynix later confirms the plan has been dropped, attention would shift to whether Solidigm remains a capital user inside the group or becomes part of a different restructuring.

The immediate dated check is Friday, Oct. 23, when investors can watch for any company statement from SK Hynix or follow-up disclosure on Solidigm’s ownership plan.