[Alpha Biz=(Chicago) Reporter Paul Lee] Incross, an affiliate of SK Group, saw its stock price plunge on news of the sale of all of its shares held by the company's CEO.
According to the Financial Supervisory Service's electronic disclosure system on the 13th, Lee Jae-won, CEO of Incross, sold 5.01% (643,687 shares) of the company's entire stake, which he was holding in the block deal method. The disposal unit price is 15,956 won, a 9.8% discount from the closing price of the previous trading day (17,690 won). The sale amount is about 10.27 billion won.
Incross is a digital advertising company with a 36% stake in SK Square, an intermediate holding company specializing in investment in SK Group. SK Telecom became an affiliate of SK Group in 2019 when it acquired a stake held by NHN (formerly NHN Entertainment).
Since then, SK Square, which was split from SK Telecom in 2021, has become the largest shareholder by bringing in shares. Lee was the second largest shareholder after SK Square before selling his stake.
After the news of the CEO's stake sale, Incross's stock price fell more than 13% during the day and closed at 16,250 won, down 8.14% (1,440 won) from the previous day.
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