On July 10, it was reported that Kakao is considering selling up to 430 billion KRW worth of its shares in SK Square through a block deal (off-hours large-scale trading).
According to the investment banking (IB) industry on this day, Kakao began a demand survey targeting institutional investors and others after the market closed, in preparation for a block deal of its SK Square shares.
The number of shares to be sold is approximately 2.48 million shares of SK Square held by Kakao, accounting for about 1.8%. The sale price per share is reported to be around 170,000 KRW.
Kakao acquired these shares through a strategic alliance with SK Telecom in 2019, during which the two companies exchanged shares. Kakao has continued to hold these shares since SK Square was spun off from SK Telecom.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
