Solidigm picks lead banks for US IPO, Bloomberg says

Solidigm has chosen the lead banks that will steer its planned US initial public offering, according to a Bloomberg report, a move that signals the memory chip maker is pressing ahead with what could be one of the larger listings on the US calendar. The mandate would place the company among the year's more closely watched technology candidates.

The company, formed from Intel's former NAND flash business and now controlled by South Korea's SK hynix, has been seen as a candidate for a public listing as demand for storage chips tied to data centres and artificial intelligence workloads grows. Selecting underwriters is typically among the first concrete steps in preparing an offering.

The report did not disclose the size of the offering, the expected timing or a valuation for the business. Those details typically emerge later in the process, once a company files a registration statement with US securities regulators.

A listing would give public market investors exposure to a sector dominated by a handful of large manufacturers, where pricing and capital spending cycles swing sharply. Investor appetite for chip listings has been uneven in recent years, making the choice of advisers important. Bloomberg's report did not indicate whether a filing has been submitted, leaving the timetable for any transaction unclear.