Solidigm, a U.S. subsidiary of SK Hynix, has selected underwriters for its initial public offering (IPO) in the United States, aiming to raise up to $10 billion, according to a report by Bloomberg on October 7, citing sources.
Sources indicated that Solidigm has chosen Goldman Sachs and Morgan Stanley as lead underwriters. JP Morgan, Citigroup, and UBS are also expected to participate in the underwriting group.
In addition to the IPO, Solidigm is reportedly discussing funding options with two banks ahead of the public offering.
The IPO is anticipated to take place as early as next year, with Solidigm targeting a maximum fundraising goal of $10 billion (approximately 13.4 trillion won). If successful, this could value Solidigm at up to $100 billion, according to Bloomberg.
However, discussions regarding the IPO are ongoing, and details may change, including the potential addition of more underwriters, sources noted.
In response, a spokesperson for SK Hynix stated that Solidigm is exploring various options to enhance its business competitiveness, but no specific plans have been finalized.
Solidigm was established after SK Hynix acquired Intel's NAND flash memory division, with plans to develop it into a leading provider of high-performance memory semiconductors for AI data centers in the U.S.
Meanwhile, SK Hynix raised approximately $26.5 billion (around 35.5 trillion won) through its American Depositary Receipt (ADR) listing in July, setting a record for the largest U.S. stock market listing by a foreign company.
* This article has been translated by AI.
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