SK hynix faces debate over potential Solidigm Nasdaq listing

SK hynix is facing market debate regarding the potential Nasdaq listing of its US-based NAND flash subsidiary, Solidigm. While the company has stated it is reviewing various ways to strengthen Solidigm's competitiveness, no final decision has been made.

Financial analysts are divided on the implications of a potential IPO. Some, such as Mirae Asset Securities, view the move as a strategic way to secure approximately $15 billion in investment capital for US-based operations and recoup M&A costs. Conversely, analysts from Toss Securities warn that a separate listing could dilute the economic value for existing SK hynix shareholders, as the profits from Solidigm's business would be shared with new external investors rather than being fully consolidated.

In response to concerns over shareholder value dilution, market attention is focused on SK hynix's upcoming shareholder return policy, expected to be announced between late August and early September. Observers suggest the company may implement special dividends, share buybacks, or cancellations to mitigate investor backlash and address the concerns raised by the potential 'split listing' structure.