🇰🇷SK hynix canceled U.S. IPO and pre-IPO financing plans for Solidigm, its flash-memory subsidiary, citing market conditions and share-price performance.

SK hynix said it would not proceed with Solidigm’s proposed U.S. IPO and had stopped the associated pre-IPO financing process. Reports citing the company’s announcement identify capital-market conditions and share-price performance as its stated reasons.

Solidigm had considered financing options to expand production capacity and strengthen competitiveness. An earlier reported proposal involved KRW 5 trillion in pre-IPO financing, but the supplied sources do not report that this money was raised.

Additional reporting describes shareholder opposition and regulatory scrutiny over a potential “duplicate listing” and concerns about dilution of existing shareholders’ interests. Goldman Sachs and Morgan Stanley had reportedly been selected as lead banks for a possible U.S. listing in 2027; those preparations did not constitute a completed offering.

SK hynix said Solidigm’s need for growth investment remained unchanged and that it would continue exploring alternatives to enhance shareholder value. The source set contains Telegram accounts of the announcement and regulatory filing, rather than a direct URL to the underlying filing.