Kakao Considers Selling SK Square Shares Worth About 430 Billion KRW
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.
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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.
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