SK Hynix Halts Solidigm IPO Review, Citing Shareholder Returns Amid US Fab Needs

SK Hynix halted the IPO review for its Solidigm unit because the unit still requires a new US fab. South Korea’s Financial Supervisory Service (FSS) said a US listing could breach rules restricting dual listings, but SK Hynix attributed the halt to market turbulence and a semiconductor stock correction. SK Hynix stated its investment needs and Solidigm's outlook remain unchanged, and the company approved a 40 trillion won buyback and share cancellation program in August, raising its return target to over 50% of cumulative free cash flow through 2027. The stock finished up 4% after an initial drop.