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SKD WIRETrue
SK hynix CEO Kwak Noh-jung said the company has decided to put off the planned IPO of its subsidiary Solidigm, saying the anticipated benefits from a listing could not be achieved under current conditions.
Kwak said the expected effects of taking Solidigm public would be difficult to realize, leading SK hynix to stop the listing process for now. The statement puts a hold on the subsidiary's path to the stock market, with no indication given of a revised timetable.
Solidigm, the NAND-focused storage company SK hynix acquired from Intel, has been the subject of listing plans as part of the group's portfolio strategy. The CEO's remarks mark a change in that course, with the company judging that a listing at this point would not deliver the gains it had anticipated.
The company did not specify when, or in what form, it may revisit the IPO plan. The decision leaves the timing of any future Solidigm listing unresolved.
The claim that Kwak cited the failure to reach the expected IPO benefits as the reason for halting the Solidigm listing is True.
