SK Hynix said its overseas subsidiary Solidigm has canceled planned pre-IPO financing and stopped an IPO review, citing market conditions and share-price performance, BlockBeats reported.
IPO review halted amid market conditions
The announcement ends the current financing and review process for Solidigm. The company did not provide a new timetable in the cited flash.
Parent keeps growth investment focus
SK Hynix said the need to invest in Solidigm’s growth remains. It will continue exploring alternatives aimed at improving shareholder value, according to the announcement.