SK Innovation sold its entire equity stake in AIRRANE, a gas separation membrane company.
On the 18th, according to the Financial Supervisory Service electronic disclosure system, SK Innovation sold, via after-hours block trade, the entire 7.85% equity in AIRRANE that it held with SK iTechnology.
Specifically, SK Innovation is estimated to have sold a total of 641,940 AIRRANE shares—320,970 shares each held with SK iTechnology—at 16,461 won per share, recouping about 10.6 billion won.
SK Innovation's sale of its AIRRANE equity is seen as part of SK Group's broader disposal of noncore assets. Earlier, it also sold the headquarters of its subsidiary Cowon Energy Service in Daechi-dong, Gangnam-gu, Seoul.
Recently, SK Innovation executed a merger of battery subsidiary SK On and lubricants affiliate SK Enmove, and is pursuing broad-based asset monetization, including a rights offering of about 2 trillion won.
Meanwhile, AIRRANE is a gas separation membrane solution company founded in 2001. Its core technology separates mixed gases such as methane and carbon dioxide, and it posted sales of 24.5 billion won and an operating profit of 1.6 billion won last year.