SK Inc. set an 88,000-won tender price for SK ecoplant minority shareholders, a 53% premium to the affiliate’s average over-the-counter price in the past month.
The Herald said the bid would cover 16,434,638 shares, or roughly one-quarter of SK ecoplant’s total shares outstanding. The cash price is 88,000 won ($65.70) per share. That is around 53% above the roughly 57,500-won average reported for SK ecoplant on South Korea’s over-the-counter market during the previous month.
The 88,000-won figure followed an outside accounting firm’s review of asset values and likely earnings, the newspaper reported. NH Investment & Securities will oversee the process and accept applications at its branches and digital trading channels, according to the Herald.
SK Inc. bought financial investors’ holdings for about 400 billion won in April. That left it with 71.2% of SK ecoplant’s total shares outstanding and about 74% of voting rights, the Herald reported.
SK ecoplant had pursued an IPO since about 2022, but the Herald said the plan was shelved amid tighter government scrutiny of subsidiary listings and growing market concern about them. SK Inc.’s board cited a risk that a separate listing could reduce the value investors assign to the parent and its shareholders’ interests, the paper reported.
The affiliate has spent about three years steering its business toward semiconductor and AI infrastructure, according to the Herald. An SK Inc. official told the paper that full ownership would help build SK ecoplant’s position in those sectors and bring resulting gains to SK Inc. shareholders.
A cash payout through a comprehensive share exchange is SK Inc.’s planned route for any minority holdings that remain after the offer, according to the Herald. The tender period is scheduled to open Nov. 5 and close Nov. 24.
