{"id":440660,"date":"2026-10-23T06:40:10","date_gmt":"2026-10-22T23:40:10","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/sk-hynix-drops-us-ipo-plan-for-solidigm-once-eyed-at-up-to-150-billion-valuation-440660\/"},"modified":"2026-10-23T06:40:10","modified_gmt":"2026-10-22T23:40:10","slug":"sk-hynix-drops-us-ipo-plan-for-solidigm-once-eyed-at-up-to-150-billion-valuation","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/sk-hynix-drops-us-ipo-plan-for-solidigm-once-eyed-at-up-to-150-billion-valuation-440660\/","title":{"rendered":"SK hynix drops US IPO plan for Solidigm, once eyed at up to $150 billion valuation"},"content":{"rendered":"<div>\n<p dir=\"ltr\">For SK Hynix shareholders, the decision removes an overhang. Investors had worried that a separate US listing would dilute the parent\u2019s economic interest and add to the holding-company discount across a group that already includes several listed entities. That could offer some support to the shares, which have dropped about 30% since late September to near six-month lows. The move also signals that the window for large AI hardware listings has narrowed after this month\u2019s chip sell-off and the turmoil around neocloud funding. Next week\u2019s third-quarter results will now take focus, along with whatever funding route SK hynix chooses for Solidigm\u2019s expansion.<\/p>\n<p dir=\"ltr\">&#8212;-<\/p>\n<p dir=\"ltr\">\nSK Hynix has pulled the plug on Solidigm\u2019s US float as falling chip valuations make the timing unattractive, easing a dilution worry for its own shareholders but leaving the unit\u2019s funding question open.<\/p>\n<p dir=\"ltr\">Summary:<\/p>\n<ul dir=\"ltr\">\n<li>SK Hynix has decided not to pursue a US initial public offering of Solidigm, its US-based NAND flash and solid-state drive subsidiary.<\/li>\n<li>The company said it ended the IPO review because of market conditions and share price trends.<\/li>\n<li>It said Solidigm still needs investment to grow and that it will keep looking at other ways to enhance shareholder value.<\/li>\n<li>Reports in recent weeks suggested a listing as early as 2027 that could value Solidigm at up to $150 billion and raise $10 billion to $15 billion, with Goldman Sachs and Morgan Stanley reportedly picked as lead banks.<\/li>\n<li>SK hynix shares have fallen sharply since late September, partly on concerns that a separate listing would dilute existing shareholders.<\/li>\n<li>SK hynix is due to report third-quarter results on October 28.<\/li>\n<\/ul>\n<p dir=\"ltr\">\nSK hynix has decided not to pursue a US initial public offering of Solidigm, its NAND flash memory and solid-state drive subsidiary, citing market conditions and share price trends.<\/p>\n<p dir=\"ltr\">The South Korean chipmaker said it had ended its review of a listing, but stressed that Solidigm still needs investment to grow. It added that it will continue to explore other options to enhance shareholder value. South Korea\u2019s Korea Economic Daily first reported the decision on Friday.<\/p>\n<p dir=\"ltr\">The move reverses a plan that had been gathering pace. Reuters reported in late September that Solidigm was considering a US listing as early as 2027 that could value the business at up to $150 billion and raise as much as $15 billion. That would have made it the largest semiconductor IPO in the US. In early October, Bloomberg reported that Goldman Sachs and Morgan Stanley had been chosen to lead an offering of about $10 billion, alongside a pre-IPO funding round. SK hynix consistently said that no decision had been made and that it would weigh the potential impact on existing shareholders.<\/p>\n<p dir=\"ltr\">Those shareholder concerns appear to have been a key factor. Solidigm sits at the bottom of a chain of listed SK group companies, and investors worried that a separate US float would dilute SK hynix\u2019s economic interest in the business and deepen the discount the market applies to group holding structures. SK hynix shares have fallen about 30% since the end of September to near six-month lows, as doubts about returns on AI investment, competition in memory chips and the Solidigm debate weighed on sentiment. The Seoul-listed shares fell about 5.5% on Thursday.<\/p>\n<p dir=\"ltr\">Market conditions have also turned less welcoming. Chip stocks suffered their steepest daily fall since June this week amid renewed concern about AI spending, while funding stress at AI infrastructure providers has made investors more selective about capital-intensive hardware stories.<\/p>\n<p dir=\"ltr\">Solidigm, based in Rancho Cordova, California, was formed from Intel\u2019s NAND and SSD business, which SK hynix agreed to buy in 2020 for about $9 billion. The unit makes enterprise solid-state drives, which have been in strong demand as AI data centres expand their storage capacity.<\/p>\n<p dir=\"ltr\">The company\u2019s statement leaves open how that growth will be funded. With the IPO shelved, investors will look for clues on alternatives, such as direct support from the parent or private capital, when SK hynix reports third-quarter results on October 28.<\/p>\n<p dir=\"ltr\">\n<p dir=\"ltr\">\n<p>                            This article was written by Eamonn Sheridan at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>For SK Hynix shareholders, the decision removes an overhang. Investors had worried that a separate US listing would dilute the parent\u2019s economic interest and add to the holding-company discount across a group&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-440660","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=440660"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440660\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=440660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=440660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=440660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}