SK Hynix's U.S. subsidiary Solidaime has selected underwriters for its initial public offering (IPO) in the United States, according to a report by Bloomberg citing sources on October 7.
Sources indicated that Solidaime has chosen Goldman Sachs and Morgan Stanley as lead underwriters. JP Morgan, Citigroup, and UBS are also expected to participate in the underwriting group.
Additionally, Solidaime is reportedly discussing funding options with two banks ahead of the IPO.
The IPO is anticipated to take place as early as next year, with Solidaime aiming to raise up to $10 billion, approximately 13.4 trillion won. If successful, this could value Solidaime at up to $100 billion, Bloomberg noted.
However, discussions regarding the IPO are ongoing, and details may change, including the potential addition of more underwriters, sources mentioned.
In response, a spokesperson for SK Hynix stated that Solidaime is exploring various options to enhance its business competitiveness, but no specific plans have been finalized.
Solidaime was established as a U.S. subsidiary following SK Hynix's acquisition of Intel's NAND flash memory division. SK Hynix plans to develop Solidaime into a leading provider of high-performance memory semiconductors for artificial intelligence (AI) data centers in the U.S.
Meanwhile, SK Hynix raised approximately $26.5 billion 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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