South Korean Financial Regulator: SK Affiliate Solidigm's U.S. Listing May Violate Relevant Regulations

South Korea's financial regulator stated that Solidigm, a U.S.-based subsidiary of SK Hynix, may violate restrictions related to "dual listing" if it proceeds with a public listing. Lee Chan-jin, Chairman of the Financial Supervisory Service, noted that South Korean authorities are reviewing whether Solidigm's potential U.S. IPO would require review under domestic South Korean regulations. When asked how regulators would protect the interests of minority shareholders of parent company SK Hynix in the event of Solidigm's listing, Lee Chan-jin responded: "We have been closely monitoring this matter... Both the Financial Services Commission and our agency consider this to be an act that violates provisions related to dual listing."

Source: PANewsRead original