SK Square. (Photo = Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] SK Square is selling up to $198 million worth of Krafton shares in a block trade

According to SK Square today (22nd), the company has begun demand forecasting to sell the entire 2.2% (1,085,600 shares) of Krafton it holds after the market closes today.

It is scheduled to be sold for 243,000 to 251,000 won per share, applying a discount rate of 3.1 to 6.2% to today's closing price of 259,000 won. The expected sale amount, considering the discount rate, is in the range of 263.8 billion won to 272.5 billion won.

Previously, when its subsidiary SK Planet ended its fund investment in December 2022, SK Square received Krafton stocks (1,085,600 shares) as an in-kind dividend instead of the investment money.

At the time of acquiring the shares, the price per share was estimated at approximately 168,000 won.

As Krafton's stock price has been on the rise since the second half of last year, it is interpreted that the company has started taking profits.

Krafton's stock price fell to 145,900 won on October 4 last year, hitting a new 52-week low, and then turned upward, rising to 265,000 won during intraday trading on March 27, breaking a 52-week high.

SK Square is an investment company launched by SK Telecom (SKT) in 2021 and is seeking to secure cash by cleaning up major companies such as SK Shielders and Nanoentech last year.

 

 

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