SK Hynix halts Solidigm US IPO review on market volatility

SK Hynix has suspended the review of its US subsidiary Solidigm's planned initial public offering, citing financial market volatility and stock price movements. The South Korean chipmaker announced the decision on Friday. The move follows regulatory scrutiny from South Korea's financial watchdog over potential violations of "dual listing" restrictions, which were tightened in July to protect shareholders. SK Hynix stated the decision does not reflect any change in Solidigm's growth prospects or investment needs, and it will continue exploring financing options for the subsidiary's expansion. The IPO could have raised up to $15 billion, according to Reuters. SK Hynix shares have fallen over 30% since late September when the potential listing was announced, compared to a 20% decline in the KOSPI benchmark. Analysts suggest the announcement may improve investor sentiment toward semiconductor stocks.