SK Hynix halts its review of Solidigm's U.S. initial public offering
SK Hynix dropped its plan for a U.S. IPO of Solidigm, citing volatile markets and regulatory concerns. Solidigm’s IPO was considered worth $150 billion, and the Nasdaq dropped 2.6 percent as the news unfolded.
- SK Hynix halted the review of a potential U.S. initial public offering for Solidigm.
- SK Hynix's shares tumbled 31 percent since the potential listing news.
- South Korean regulators were concerned the planned offering could be a duplicate listing.
- The Nasdaq Composite slid 2.6% on Thursday.
- Financial Supervisory Service Gov. Lee Chan-jin stated Solidigm’s listing would violate dual listing rules.
- Reports indicated Solidigm considered a U.S. IPO potentially valuing it at $150 billion.
- Solidigm specializes in NAND flash memory and solid-state drives.
Outlets: Free Malaysia Today, International: Top News And Analysis, Nikkei Asia, Taipei Times, The Jakarta Post, The Korea Herald, The Korea Times, The Standard (Thailand)
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