Image: OCI Holdings

South Korea’s OCI Holdings has reportedly paused the public listing of its Malaysian polysilicon subsidiary, as global financial markets face heightened volatility. According to a Bloomberg report, the company still intends to pursue an IPO, but current conditions have prompted a more cautious approach.

Insiders point to recent U.S. tariffs on imported goods as a major contributor to market instability, influencing the timing of OCI’s decision. The planned listing was previously expected to raise up to US$320 million, providing capital to support operations and future expansion in Malaysia.

The delay also reflects broader challenges in the global polysilicon market, which is currently grappling with significant oversupply. Prices of solar-grade polysilicon have dropped sharply over the past two years, putting financial pressure on producers. 

As the solar industry undergoes this correction phase, market players like OCI are opting for strategic patience—waiting for more favorable conditions to return before moving forward with major capital market activities.