SK hynix’s US storage unit Solidigm, a California-based maker of NAND flash memory and solid-state drives, is considering a US IPO as early as next year that could value the company at up to US$150 billion and raise about US$15 billion, according to people familiar with the matter.

Solidigm held pitch meetings this week with banks competing for roles on the offering.

The plans remain preliminary and could change with market conditions.

SK hynix acquired Intel’s NAND and solid-state drive business in a deal announced in 2020 and launched Solidigm as a standalone subsidiary in 2021.

The transaction gave SK hynix a bigger position in NAND flash memory and enterprise solid-state drives.

Earlier in September, Solidigm was also considering a US NAND factory, with upstate New York emerging as a leading candidate.

🔗 Source: Reuters

Recent Solidigm developments