SK Hynix has halted its push for the initial public offering of Solidigm, its U.S. sub-subsidiary.

This comes 79 days after news of its IPO preparations broke in August.

SK Hynix explained that the decision took into account recent capital market conditions and the interests of existing shareholders.

Amid ongoing controversy over double-listing and shareholder backlash regarding the Solidigm IPO, SK Hynix stated that it will seek ways to enhance shareholder value by reviewing investment timing, scale, and fundraising methods moving forward.