[Asia Economy Reporter Song Hwajeong] SK Gas is experiencing a strong rise of over 10% following the news of SK Discovery's tender offer.
As of 9:25 AM on the 17th, SK Gas was trading at 104,500 KRW, up 9,800 KRW (10.35%) compared to the previous day.
On this day, SK Discovery announced that it would publicly tender to purchase 461,512 shares of SK Gas (5% of the total issued shares) at 109,000 KRW per share. The tender offer period is from today until the 5th of next month. SK Discovery explained, "We judged that it is necessary to additionally acquire SK Gas shares to secure stable management rights, establish a swift and efficient decision-making system, and enhance competitiveness, which is why we are proceeding with this tender offer."
With this tender offer, SK Discovery's stake in SK Gas will increase from the existing 67.20% to 72.20%.
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