SK(034730) Co. decided to delist its subsidiary SK Signet and then sell it. Shares held by small shareholders will be purchased through a tender offer.
SK said on the 24th that it decided to launch a tender offer for common shares of SK Signet, which is listed on KONEX.
The tender offer price is 8,200 won per share. This is more than 20% higher than the volume-weighted average price over the past month of transaction. The purchase period is for one month from today through on the 24th of next month.
During this period, SK plans to buy up to about 10 million shares of SK Signet common and preferred stock.
The tender offer manager is NH Investment & Securities, and interested shareholders can sell their shares by visiting an NH Investment & Securities branch or through an online platform.
After the tender offer, the delisting process for SK Signet will proceed sequentially through a comprehensive stock exchange.
In a typical delisting process, it is possible to secure 100% equity through a comprehensive stock exchange alone. SK first decided to hold a tender offer to give general shareholders a chance to sell under terms that include a premium over the market price.
SK plans to acquire the equity of shareholders who do not participate in the tender offer through a stock exchange.
SK plans to complete SK Signet's delisting and its incorporation as a wholly owned subsidiary by the fourth quarter, and to sell SK Signet by the first quarter of next year.
This tender offer also aligns with recent capital market advancement policies that emphasize protecting small shareholders. The Financial Services Commission is pushing to introduce a mandatory tender offer system in the second half, as a priority legislative task, that would require buyers seeking to secure control of a listed company by acquiring a large equity stake to purchase the shares of small shareholders at the same price and on the same terms as the largest shareholder.
SK Signet, founded in 1998, is a company specializing in electric-vehicle chargers that was incorporated into SK in 2021 and provides customized charging solutions aligned with global standards, focused on fast and ultra-fast charging.
It posted an operating profit of 3 billion won in 2022, but has since recorded operating losses of 149.4 billion won in 2023, 242.8 billion won in 2024, and 48.4 billion won in 2025.
An SK official said, "This tender offer is a decision to fulfill our responsibility in management to enhance the value for small shareholders ahead of the push to sell SK Signet," adding, "At present, aside from the plan to sell after incorporating it as a 100% wholly owned subsidiary, nothing has been finalized."