SK hynix’s Solidigm prepares for U.S. listing; $10 billion raise expected

[Financial News] Solidigm, a subsidiary of an SK hynix subsidiary, is reported to have selected underwriters for an initial public offering (IPO) as it prepares to pursue a U.S. stock market listing as early as next year.
On the 8th, major foreign media outlets, including Investing.com, reported that Solidigm recently selected Goldman Sachs and Morgan Stanley as IPO underwriters. The two banks are also expected to participate in efforts to attract investment and raise funds ahead of the listing.
There has also been discussion of JP Morgan Chase, Citigroup and UBS Group possibly joining the underwriting syndicate. However, as discussions are ongoing, specific plans, including the timing of the listing and the composition of the underwriting team, could change.
Solidigm is expected to raise about $10 billion (approximately 13.4 trillion won) through the IPO. The listing is being discussed for as early as 2027, and there is also speculation that the company could be valued at up to $100 billion (approximately 134 trillion won).
Solidigm is a U.S. entity established when SK hynix acquired Intel’s NAND flash and solid-state drive (SSD) business in 2021. It currently focuses on supplying high-capacity enterprise SSDs (eSSDs) used in artificial intelligence (AI) data centers.
The planned listing is seen as a move to secure investment funds to respond to the expansion of the AI data center market and increase Solidigm’s corporate value.
However, in South Korea, some have warned that if Solidigm’s U.S. listing goes ahead, it could spark controversy over duplicate listings. Concerns include the potential dilution of the parent company’s value and the splitting of investment demand following a separate listing.
SK hynix has previously said of Solidigm’s listing, “We are reviewing various measures to strengthen competitiveness, but nothing has been decided.”

[email protected] Im Subin Reporter