Solidigm picks Goldman Sachs, Morgan Stanley to lead possible US IPO
SK hynix's US NAND and SSD subsidiary is considering a listing next year, but the parent says no decision has been made.
Solidigm has selected Goldman Sachs and Morgan Stanley as lead underwriters for an initial public offering and is considering a listing on the US stock market next year, according to inews24.com. Solidigm is the US-based NAND and SSD subsidiary of Korean chipmaker SK hynix.
SK hynix said no decision has been made on whether Solidigm will be listed. The subsidiary has also recently signed a contract with a US lobbying firm and hired an executive to handle government relations.
Politicians in Korea have raised questions about the plan. Lawmakers from both major parties — the Democratic Party of Korea and the People Power Party — called for reviewing possible harm to existing shareholders from a Solidigm listing.
Bloomberg Intelligence said in a recent report that faster profit growth at Solidigm from IPO-funded capacity and R&D investment could offset the effect of a lower ownership stake.
SK hynix acquired Intel's NAND flash and SSD business in 2021, creating Solidigm.
Quick answers
Who are the lead underwriters for Solidigm's IPO?
Solidigm has selected Goldman Sachs and Morgan Stanley as lead underwriters.
When could Solidigm be listed?
Solidigm is considering a listing on the US stock market next year. SK hynix said no decision has been made on whether the company will be listed.
Who owns Solidigm?
Solidigm is the US-based NAND and SSD subsidiary of SK hynix, which acquired Intel's NAND flash and SSD business in 2021.