SK hynix halts review of US stock market listing of Solidigm

Solidigm 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. “The decision does not reflect any change in the company’s growth prospects or investment needs,” SK hynix said in a press statement. “Rather, it reflects a reassessment of whether an IPO would be the most beneficial option for SK hynix and its existing shareholders under current market conditions.” Reports circulated that Solidigm, SK hynix’s NAND flash memory subsidiary, was considering a U.S. IPO as early as next year that could value the company at up to $150 billion. However, the potential listing had raised concerns over its impact on SK hynix's shareholder value, as well as regulatory scrutiny over the possibility of a subsidiary listing overseas while its parent company remains listed in Korea.