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SK Hynix
2026-09-28 07:06:22

SK Hynix weighs U.S. IPO for Solidigm as ownership concerns hit Korean chip stocks

SK Hynix is reviewing a potential U.S. initial public offering for its American NAND Flash subsidiary Solidigm, a move Bloomberg said could value the company at as much as $100 billion and come as early as next year. The report triggered a sharp market reaction in South Korea. SK Hynix fell 5%, marking its biggest one-day drop in nearly two weeks, while its largest shareholder SK Square dropped more than 8% and holding company SK Inc. lost more than 6%. The proposed listing has drawn scrutiny over the group’s layered ownership structure. The Korea Corporate Governance Forum said in August that SK Hynix should abandon the plan, arguing that Solidigm is held indirectly through the U.S. unit AI Company, making it a sub-subsidiary and deepening an already pyramid-style structure if listed separately. That has fueled concerns about duplicate listings and shareholder dilution. Jung In Yun, chief executive of Fibonacci Asset Management Global, said investors should stay cautious rather than panic. In his view, a U.S. listing could unlock Solidigm’s value and raise funds for capacity expansion, but existing SK Hynix shareholders would also give up part of the unit’s future earnings. He said the outcome depends on the final valuation and how the proceeds are used. Rising oil prices have also added pressure, pushing risk-off sentiment higher and weighing on Korean semiconductor names including Samsung Electronics.

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SK Hynix weighs U.S. IPO for Solidigm as ownership concerns hit Korean chip stocks
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Gate Research
2026-08-13 16:51:08

Gate Research Institute Examines Whether Crypto Platforms Can Break IPO Allocation Barriers

Gate Research Institute has published a detailed study on crypto-based IPO Access products, arguing that the key question is not how much a stock rises on its debut, but how much of that return end investors can actually capture after allocations, fees, capital lockups, and exit timing are taken into account. The report maps the full financing-to-exit chain for traditional companies, then places crypto distribution models on top of that structure rather than treating them as a replacement for the conventional underwriting and custody system. The study separates the market into three product types: real IPO allocations, Pre-IPO private shares or SPV interests, and structured Pre-IPO tokens such as Mirror Notes that do not grant direct equity ownership. It also distinguishes between Gate’s IPO Access product, which routes successful allocations into a Gate Stock account, and Gate Pre-IPOs, where products like the OPENAI Asset Certificate represent contingent payout structures instead of actual OpenAI shares. Using a unified SpaceX scenario, the report compares a traditional broker channel with Gate’s IPO Access model. With a $13,500 subscription, a 3% allocation rate, a 3-day capital freeze, and a first-day close of $160.95 versus a $135 offering price, the report calculates a net return of about 0.54% for the traditional broker and 0.39% for Gate after a 5% subscription fee on allocated shares. The conclusion is direct: the core competitive variable in IPO Access is access to real allocation, not the headline first-day gain alone.

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Gate Research Institute Examines Whether Crypto Platforms Can Break IPO Allocation Barriers