[Special Stock] SK Biopharm Plunges 11.86% Following Block Deal Disclosure...
[Asia Economy Reporter Lee Seon-ae] SK Biopharm's stock price is showing a sharp decline.
As of 9:26 a.m. on the 24th, SK Biopharm is trading at 130,000 won, down 17,500 won (11.86%) from the previous day. During the session, it fell to 127,000 won. This is interpreted as a result of SK's announcement that it sold part of its SK Biopharm shares through an off-hours block deal. The sold shares amount to 8.6 million shares, worth approximately 1.1163 trillion won. With this sale, SK's stake in SK Biopharm has been adjusted to 64.02%.
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The company stated, "This share sale is a successful case of the investment specialist company SK completing the 'investment-development-IPO-investment recovery' process," adding, "The recovered investment funds will be reused for growth business investments, thereby realizing a 'virtuous cycle of investment structure.'"
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