Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = SKietechnology(hereinafter referred to as SKIET), a subsidiary of SK Innovation’s material business, will begin a full-scale public offering process with the aim of being listed on the securities market(KOSPI) in May.

SKIET decided to issue 8.556 million new shares. SK Innovation, the parent company, also held a temporary board meeting that day and decided to release 12.834 million shares, which is 22.7% of the company’s 90% stake in SKIET, as the sale of old shares.

As a result, the total number of SKIET public offering shares is 21.39 million. It is equivalent to 30% of all issued shares(after public offering).

SKIET’s desired price range is 78,000 won to 105,000 won per share. Based on this standard, the corporate value ranges from about 5.6 trillion won to 7.5 trillion won.

The funds raised through the public offering will be used as investment resources to take the business that SK Innovation affiliates are fostering as new growth industries, such as batteries and separators.

The ratio of public offering is 55% for institutional investors, 25% for general investors, and 20% for employee stock ownership association.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
Copyright ⓒ Korea's economic news agency NSP NEWS·NSP TV. All rights reserved-Redistribution Prohibited.