SK Square Hits New Low Again After Withdrawing Subsidiary's IPO

[Asia Economy Reporter Hwang Yoon-joo] SK Square hit a new low following the news of its subsidiary SK Shielders withdrawing its IPO.

As of 9:46 a.m. on the 9th, SK Square was trading at 46,300 won, down 4.34% (2,100 won) from the previous trading day. It has fallen for four consecutive trading days, setting a new low again.

SK Shielders proposed a desired public offering price range of 31,000 to 38,800 won and conducted demand forecasting targeting institutional investors but failed to attract interest. This was due to the IPO market shrinking as the base interest rate hike became more pronounced.

Ultimately, on the 6th, SK Shielders submitted a withdrawal report for its IPO. SK Shielders stated, "Although we conducted demand forecasting to finalize the public offering price, considering various conditions including difficulties in properly evaluating the company's value, we have canceled the remaining schedule with the consent of the lead and joint underwriters and submitted the withdrawal report," thereby withdrawing the listing.

This content was produced with the assistance of AI translation services.