SK Hynix Cancels Solidigm US IPO After Shareholder Opposition and Market Volatility

SK Hynix has abandoned plans to take its US storage subsidiary Solidigm public on American markets, citing market conditions, share price trends and strong opposition from its own shareholders. The South Korean chipmaker also halted a pre-IPO investment process that had been running alongside the planned listing, disclosing both decisions in a regulatory filing.

Shareholder concern centered on the risk that a US listing would deepen SK Hynix's already complex pyramid ownership structure and undermine minority investor interests, issues that drew regulatory scrutiny as well. When reports of a potential Solidigm IPO first surfaced in late September 2026, SK Hynix shares dropped as much as 8% on those governance worries.

In a statement, SK Hynix said the IPO review has been discontinued but stressed that the need to invest in Solidigm's growth remains unchanged, and that it will continue to explore alternative ways to enhance shareholder value. Solidigm, which SK Hynix acquired from Intel, is a NAND flash storage business whose listing had been seen as a way to unlock value from that asset separately from the parent's memory chip operations.