Solidigm eyes 2027 Nasdaq listing that could value it at $150 billion
SK Hynix's NAND unit held pitch meetings with banks this week as it lines up a possible initial public offering, sources say
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SK Hynix's Solidigm is considering a 2027 initial public offering that could value the NAND and SSD maker at $150 billion, according to sources. The unit met with banks this week to discuss roles in a potential deal, the sources said.
SK Hynix formed Solidigm in 2021 by buying Intel's 3D NAND and SSD business for $9 billion, according to The Korea Herald. A Nasdaq listing at the valuation now under discussion would let SK Hynix recover far more than it paid for the unit.
SK Hynix has not committed to a listing. In an August 5 regulatory filing cited by The Korea Herald, the company said Solidigm was reviewing "various options" to strengthen its competitiveness but that no decision had been made. Digitimes had earlier reported that Solidigm was weighing a pre-IPO funding round of $3.5 billion to $7 billion. Solidigm holds roughly a quarter of the data center-grade SSD market, according to Tom's Hardware, and has built its position around high-capacity QLC enterprise drives, including a flagship model that reaches 122 terabytes, according to Tech Times. A US asset manager pre-registered an exchange-traded fund built around the unit with the SEC just before a September 4 disclosure deadline SK Hynix faced on its listing plans, Tech Times reported.
The timeline and valuation are still years out and depend on decisions SK Hynix has not made. SK Hynix shares have already swung on semiconductor cycle shifts and on news of the company's Indiana facility, so Friday's report mainly confirms a long-term capital plan rather than changing the near-term picture for investors.