Exclusive-SK Hynix’s Solidigm Weighs IPO that Could Value the Unit at up to $150 Billion, Sources Say
The listing could raise $15 billion and would test investor demand for AI-linked storage hardware, people familiar with the matter said.
- Solidigm, the US-based NAND subsidiary of SK Hynix Inc., held 'bake-off' pitch meetings this week with investment banks competing for roles on a potential initial public offering.
- SK Hynix Inc acquired Intel Corp's NAND and SSD business for about $9 billion in a deal announced in 2020, then folded those operations into Solidigm as a standalone subsidiary in 2021.
- A potential $15 billion raise could value the subsidiary at up to $150 billion, far exceeding recent semiconductor IPO debuts including Arm Holdings' roughly $54 billion and Cerebras Systems' approximately $56 billion.
- Solidigm differentiates itself through high-capacity storage products tailored for artificial intelligence infrastructure, with upstate New York emerging as a leading candidate for a new NAND flash memory chip factory.
- Plans for the listing remain in early stages and could change depending on market conditions, though the company is considering an IPO as early as next year to boost competitiveness.
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SK Hynix subsidiary Solidigm is pursuing a U.S. listing next year, with a projected enterprise value of approximately $150 billion. This listing plan is reigniting concerns in the domestic stock market regarding the controversy over duplicate listings stemming from SK Group's complex governance structure and the dilution of shareholder value.
(Los Angeles = Yonhap News) Correspondent Kim Kyung-yoon = Reports have emerged that Solidigm, a grandchild company of SK Hynix, will launch an initial public offering (IPO) in the U.S. as early as next year...
SK Hynix's Solidigm weighs IPO that could value the unit at up to $150 billion: Report
Solidigm held pitch meetings this week with investment banks competing for roles on the IPO, in a process known as a "bake-off," one of the people and a fourth person said, marking a concrete step toward what could become the largest-ever US semiconductor listing.
EXCLUSIVE: SK Hynix's Solidigm weighs IPO that could value the unit at up to $150 billion, sources say
Chipmaker SK Hynix's Solidigm is considering an initial public offering as early as next year that could value the US subsidiary at up to $150 billion, according to three people familiar with the matter.
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