SK Square to buy back $72 mn shares amid Palliser's value-up push

Quick Summary:

SK Square was spun off from South Korea’s top mobile carrier SK Telecom Co.in 2021.“In order to increase corporate value, we will communicate with shareholders through the board of directors and implement optimal capital allocation and predictable shareholder returns,” Han Myung-jin, chief executive of SK Square, said in a press release".

SK Square Co., the investment arm of South Korea’s No.2 conglomerate SK Group, announced shareholder-friendly measures on Thursday, in response to activist fund Palliser Capital’s push for corporate value increase.

SK Square, an intermediary holding company of SK Group, also pledged to narrow its discount to net asset value (NAV) below 50% by 2027, compared with 65.8% as of the end of September.

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Article Details

Category: Economy

Markets: South Korea

Topics: Company Share Palliser 2027 Billion Group Capital Square Price South Value

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 18:26:55 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 417 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 23734249

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