SK Hynix (SKHY.US) clarifies Solidigm financing rumor: no decision has been made

The Zhitong Finance App learned that South Korean storage giant SK Hynix (SKHY.US) responded to market rumors on Friday that its US subsidiary may be financing, stating that no decision has been made. As of press release, SK Hynix's US stock rose 1.53% in the premarket.

SK Hynix said in a statement: “The company hereby clarifies that although the company's overseas subsidiary called Solidigm is evaluating various measures to improve competitiveness, no matters have been decided as of the date of publication of this statement. The company will make further disclosures within three months after the details are confirmed or from the date this statement is issued.”

The media reported last month that SK Hynix is planning pre-IPO financing of 5 trillion to 10 trillion won for Solidigm. According to the report, Solidigm has begun recruiting executives responsible for SEC filings and foreign financial disclosure, further strengthening the market's expectations that it will be listed on the NASDAQ.

According to the report, at the product level, SoliDigm has taken the lead in launching a 122TB QLC enterprise-grade solid-state drive, becoming the first manufacturer in the world to release a product with this specification, and is developing a next-generation enterprise-grade SSD with a capacity of 245 TB, mainly for large-scale storage needs in AI data centers.

SK Hynix acquired Intel's NAND flash memory and SSD business for approximately 10 trillion won in 2020, and established Solidigm in the US in 2021 to undertake related business. If Solidigm is successfully listed on the NASDAQ, it will mark SK Hynix's further deepening its US capital layout.

The South Korean memory chip giant issued 177.9 million American Depositary Receipts (ADR) at a price of 149 US dollars per share in July this year, raising 26.5 billion US dollars, setting a new record for foreign companies to go public in the US.