Lates News

SK Hynix's South Korean shares fell on Monday after reports that its U.S. subsidiary Solidigm may pursue a U.S. listing, triggering market concerns over SK Group's complex ownership structure. U.S. media reported over the weekend, citing people familiar with the matter, that Solidigm is considering an IPO in the United States as early as next year, which could value the data storage products maker at up to $100 billion. Following the news, SK Hynix shares fell as much as 5% during Monday's Asian trading session, marking their biggest drop in two weeks. SK Square, SK Hynix's largest shareholder, fell more than 8%, while SK Inc., which controls SK Square, also dropped more than 6%. The Korea Corporate Governance Forum said Solidigm's listing would further increase the multi-tiered shareholding relationships within SK Group and deepen its pyramid-style ownership structure. The forum had urged SK Hynix in August to abandon the plan.