SK Hynix (SKHY) Stock Rises 5% After Company Scraps Solidigm IPO Plans

TLDR SK Hynix (SKHY) stock rose about 5% in pre-open trading Friday to $138.4 after the company halted its Solidigm IPO review. SK Hynix’s Seoul-listed stock reversed an early 4% loss to close up 4.4%. South Korean regulators had said a U.S. listing could break dual listing rules. Analysts say the move keeps Solidigm’s value inside the company and shifts focus to next week’s earnings. The ADR had fallen close to its 52-week low of $124.8 before the bounce. SK Hynix (SKHY) stock rose about 5% in pre-open trading Friday, reaching $138.4. The move followed news that the company halted its review of a pre-IPO fundraise and IPO for Solidigm. SK hynix Inc., SKHY Quote data showed the ADR up $6.34, or about 5%.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.