SK Hynix (SKHY.US) clarifies Solidigm financing rumors: No decisions have been made yet

According to reports from Zhihui Finance APP, South Korean storage giant SK hynix (SKHY.US) responded on Friday to market rumors regarding potential financing by its U.S. subsidiary, stating that no decision has been made yet. As of press time, SK hynix's U.S. pre-market shares are up 1.53%.

In a statement, SK hynix said: "The company hereby clarifies that while its overseas subsidiary, Solidigm, is evaluating various measures to enhance competitiveness, as of the date of this statement, no matters have been determined. The company will make further disclosures once specific details are confirmed or within three months from the date of this statement."

Media reports last month indicated that SK hynix is planning a Pre-IPO financing for Solidigm, with a scale reaching 5 trillion to 10 trillion Korean won. According to the reports, Solidigm has begun recruiting executives responsible for SEC filings and external financial disclosures, further strengthening market expectations of its upcoming Nasdaq listing.

The reports also stated that in terms of products, Solidigm has become the world's first manufacturer to launch a 122TB-class QLC enterprise-grade solid-state drive, and is developing the next generation of enterprise SSDs with a capacity of up to 245TB, mainly targeting the large-scale storage needs of AI data centers.

SK hynix acquired Intel's NAND flash and SSD business in 2020 for approximately 10 trillion Korean won and established Solidigm in the U.S. in 2021 to undertake the related operations. If Solidigm successfully lists on Nasdaq, it will mark SK hynix's further deepening of its capital presence in the United States.

This South Korean memory chip giant issued 177.9 million American Depositary Receipts (ADR) at a price of $149 per share in July this year, raising $26.5 billion and setting a record for the largest fundraising by a foreign company going public in the U.S.