Solidigm, SK Hynix's U.S. NAND flash and SSD subsidiary, has held pitch meetings with investment banks for a potential U.S. initial public offering that could take place as early as next year, Reuters reported Friday. Bloomberg separately reported that the company was exploring a listing as early as 2026, with industry observers projecting a valuation above $100 billion by 2027. The discussions remain at an early stage. Reuters said a transaction could value Solidigm at up to $150 billion and raise about $15 billion, while earlier reporting cited a valuation of up to $100 billion. The prospect of a listing has revived investor concerns over SK Group's layered ownership structure and the share of Solidigm's future earnings retained by SK Hynix shareholders. SK Hynix shares fell about 5% after reports of the potential IPO, while SK Square and SK Inc. also declined.