South Korean media reports, shared on the X platform by Citrini analyst jukan, say that Solidigm, SK hynix's American subsidiary, is now seeking pre-IPO funding. The funding round reportedly carries a target valuation of 50 trillion Korean won, and the company is said to be preparing for a possible Nasdaq listing. Solidigm was incorporated in 2021 as a U.S. unit of SK hynix to take over Intel's NAND flash and SSD business, the very business SK hynix had agreed to acquire in 2020 for approximately 10 trillion won. That acquisition agreement, signed in 2020, paved the way for the creation of Solidigm in 2021. The 50 trillion won valuation target mentioned in the report represents exactly five times the 10 trillion won acquisition price from 2020. The media report, as relayed by the analyst, did not disclose further specifics such as the amount Solidigm aims to raise, the names of potential investors, or any timeline for the Nasdaq listing. It also did not mention whether the funding round would precede the listing or coincide with it. The report did not include a response from SK hynix or Solidigm.
South Korean media reported that Solidigm, the U.S. subsidiary of SK hynix, is seeking a pre-IPO funding round. Citrini analyst jukan relayed the report in a post on X. The company is targeting a valuation of 50 trillion Korean won in the round, and the move may be tied to preparation for a Nasdaq listing.
Solidigm was set up by SK hynix in 2021 as its American subsidiary to operate the NAND flash memory and SSD business that SK hynix agreed to purchase from Intel in 2020. The deal was valued at about 10 trillion won at the time. The report gave no details on how much money Solidigm hopes to raise or when the Nasdaq listing might take place.
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