SK Innovation announced that it will pay SK On shares to shareholders.

SK Innovation announced that it will pay SK On shares to shareholders.: COMPANY / Reporter Kim Jisun / 2023-03-31 06:01:42

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

(사진=SK이노베이션)

[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Innovation announced that it will pay SK On's shares to existing shareholders in time for the initial public offering (IPO) of its battery subsidiary, SK On.

The company achieved its largest-ever operating profit last year, but as low stock prices have continued since SK On's physical division, the company has come up with a shareholder return plan to share SK On's listing performance with shareholders.

SK Innovation said in a conversation with shareholders after the regular shareholders' meeting on the 30th, "We are reviewing shareholder return measures linked to SK On's IPO."

In time for the listing of SK On, the company will acquire its own shares through an open purchase and issue SK On's shares to shareholders in return.

The size of the stock exchange is about 10% of the market capitalization of SK Innovation.

In addition, SK Innovation will distribute part of its old share sales to existing shareholders in the form of a special dividend if SK On's IPO is successfully carried out. However, the timing of SK On's IPO has not been decided yet.