The stock price of SK Gas is experiencing a sharp upward trend following the announcement by its parent company, SK Discovery, of a tender offer and plans to delist the company.
As of 9:25 AM on the 27th, SK Gas is trading at 223,000 KRW, up 6.44% from the previous day's closing price. The stock began rising steeply right after the market opened, reaching a high of 234,000 KRW before undergoing some correction.
Reports emerged that SK Discovery plans to pursue delisting after making an additional tender offer for SK Gas shares. It is known to have selected a major securities firm as the lead manager for the tender offer.
The Korea Exchange (KRX) stipulates that for companies listed on the KOSPI market, voluntary delisting is possible only if more than 95% of shares are held.
As of the end of the third quarter this year, SK Discovery holds 72.2% of SK Gas shares. By acquiring approximately an additional 23% through the tender offer, it will meet the requirements for delisting.
Meanwhile, SK Discovery is trading around the previous day's closing price, remaining stable.
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