SK Hynix shares fall 3% after scrapping Solidigm's $10 billion IPO

SK Hynix scrapped plans for a $10 billion US listing of its Solidigm unit after regulatory and shareholder opposition, sending its shares down 3% in Seoul on Friday. The South Korean chipmaker halted IPO discussions and pre-IPO investment talks, citing regulatory scrutiny over minority investor dilution and ownership structure concerns, alongside recent capital market conditions. Solidigm joins other firms pulling IPOs amid AI bubble fears, though the withdrawal was driven largely by domestic regulatory opposition, which analysts called a positive for Korean corporate governance.