SK Hynix drops US IPO plan for Solidigm, newspaper reports

SEOUL, Oct 23 (Reuters) - South Korean chipmaker SK Hynix has decided not to pursue a US initial public offering of its subsidiary Solidigm, South Korean newspaper Korea Economic Daily reported on Friday, citing unnamed industry sources.

SK Hynix did not have an immediate response to a request for comment.

The news comes weeks after SK Hynix said it was reviewing various options to strengthen Solidigm’s competitiveness, but that no decisions had been made.

Solidigm, based in Rancho Cordova, California, is the US-based NAND flash memory and solid-state drive subsidiary of South Korea’s SK Hynix Inc.