SK Innovation is experiencing a sharp rise in the early trading session following reports of a merger with SK E&S.
As of 9:34 a.m. on the 20th, SK Innovation is trading on the KOSPI market at 124,900 won, up 20,200 won (19.29%) from the previous session.
The trading volume is about 3.28 million shares, with a trading value of approximately 394.7 billion won. The stock price started at 113,100 won and has since expanded its gains.
According to media reports on the day, SK Group will hold a management strategy meeting at the end of this month to give final approval for the merger plan between SK Innovation and SK E&S. If the two companies merge, their combined assets are expected to exceed 100 trillion won. SK E&S is a company engaged in liquefied natural gas (LNG), solar power, wind power, and hydrogen.
SK Innovation stated in a pre-market disclosure on the 20th, "We are reviewing various strategic options to strengthen business competitiveness," adding, "No specific decisions have been made so far."
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