South Korea warns Solidigm IPO may breach rules
South Korea financial regulators have stated that the potential United States initial public offering of SK Hynix unit Solidigm could violate domestic dual listing restrictions. Authorities are reviewing the plans to protect minority shareholders.
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South Korea financial regulators warned Monday morning that SK Hynix faces rule violations over its US unit Solidigm's projected $150B initial public offering. Financial Supervisory Service Governor Lee Chan-jin said the planned offering breaches domestic restrictions on dual listings. The dispute threatens to derail a major liquidity event designed to protect minority shareholders.
