---
symbol: "SKHY"
name: "SK Hynix (ADR)"
date: 2026-10-23
change_pct: 2.888222055513874
direction: "up"
event_type: "m&a"
url: "https://perplo.app/why/SKHY/2026-10-23"
updated_at: 2026-10-23T17:07:02.137Z
---

# Why SK Hynix (ADR) (SKHY) rose 2.89% on October 23, 2026

SK Hynix (ADR) (SKHY) rose 2.89% on October 23, 2026 — Scrapped US IPO for Solidigm clears the path for SK Hynix.

## What happened

SK Hynix's ADR rose 1.7% after the company scrapped its planned US IPO for its Solidigm unit. Solidigm stays inside the parent rather than being partly sold to outside investors.

## Why it moved

Keeping Solidigm in-house avoids dilution to SK Hynix's equity and preserves its ability to use the subsidiary's storage business strategically.

## Why it matters

This sits within the Korea Tech theme, where SK Hynix is a core AI-memory beneficiary. Brokers such as Nomura and JPMorgan remain bullish on Korean chips, so the parent's optionality around Solidigm supports the broader…

## What would break the thesis

If SK Hynix revives the Solidigm IPO or signals a forced sale to fund its capex, the capital-structure benefit disappears.

## Sources

- [SK Hynix calls off Solidigm US IPO — and investors may like it](https://finnhub.io/api/news?id=5c99dceed5fe4f7257f679bcaed88b7e5e801ffbf30a83ce54b98e9c760a0542) — Yahoo
- [Nomura, JPMorgan bullish on Korean chips despite Kospi swings](https://www.koreaherald.com/article/10910158) — Korea Herald

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