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[Alpha Biz=(Chicago) Reporter Kim Jisun] KEPCO KDN and the Korea Racing Authority have begun the process of selling stakes in YTN, a news channel.
According to the investment banking industry on the 11th, Samil PWC announced the sale of its YTN stake held by KEPCO KDN and the Korea Racing Authority and began the sale process in earnest. Currently, Samil PwC has begun to attract investors by distributing teaser letters (TM) to potential investors. Samil PwC, the organizer of the sale, will receive a letter of intent (LOI) from potential investors by mid- to late October.
The YTN stake, which was put up for sale by KEPCO KDN and the Korea Racing Authority together, is 13 million shares, or 30.95% of the total number of shares issued. KEPCO KDN, a subsidiary of KEPCO, is the largest shareholder with a 21.43% stake in YTN. The Korea Racing Authority is the fourth largest shareholder with a 9.52% stake. If the two companies acquire stakes in YTN, they will become the largest shareholders of YTN.
YTN, a KOSDAQ-listed company, has a market capitalization of 384.7 billion won as of the end of the day (11th), and its stake value of 30.95% is estimated at about 119.1 billion won. Potential investors are expected to offer the acquisition price by adding a management premium to it.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
