On September 28, SK hynix fell 3.34% in pre-market trading, trading at $184.75/share, with turnover of $7.18 million. The decline follows growing investor concerns over SK hynix's subsidiary Solidigm potentially pursuing a massive US IPO.

Reports indicate that Solidigm, SK hynix's NAND flash and SSD subsidiary acquired from Intel in 2021, is considering an IPO as early as next year with a target valuation of up to $150 billion and a fundraising goal of approximately $15 billion, which would make it the largest semiconductor IPO in US history. The company has already held competitive pitch meetings with multiple investment banks this week, marking a substantive step forward in the listing process.

However, the market has interpreted this development as bearish. Investors are concerned that Solidigm's independent listing would dilute existing SK hynix shareholders' exposure to the NAND business, which is benefiting from an AI-driven super cycle. The Korea Corporate Governance Forum has warned that the IPO would further deepen SK Group's pyramid-like multi-layered shareholding structure and had urged SK hynix to abandon the plan. Additionally, options market activity showed a $6.895 million synthetic bearish position at the 190.0 strike price expiring October 16, signaling dominant short-side pressure. The broader semiconductor sector also traded lower, with Intel down 3.17%, AMD down 2.48%, and Micron down 2.12%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)