SK is offering 8,200 won (US$5.90) per common share for up to 10.07 million shares, equivalent to 25.07 percent of the company's fully diluted share count. The tender offer runs from Friday through Aug. 24, with settlement scheduled for Aug. 26.
The offer price is more than 20 percent above the stock's one-month average price, allowing shareholders to exit before the planned delisting and sale.
SK currently owns 74.9 percent of the EV charger maker. According to a tender offer filing submitted to the Financial Supervisory Service (FSS), it plans to delist SK Signet if the tender offer secures enough shares. If not, SK said it will acquire the remaining shares through a comprehensive share exchange, making SK Signet a wholly owned subsidiary.
The filing also disclosed that SK signed a non-binding memorandum of understanding (MOU) with a potential buyer on July 15 for a potential sale of the company. The deal has yet to be finalized.
The offer price was based primarily on the company's one-month average share price, reflecting volatility in the KONEX market.
The company aims to complete the delisting and conversion into a wholly owned subsidiary in the fourth quarter before completing the sale in the first quarter of next year.
SK Signet, acquired by SK in 2021, manufactures fast and ultra-fast EV charging systems. The company has struggled as the global EV market slowed, swinging from a 3 billion won operating profit in 2022 to operating losses of 149.4 billion won in 2023, 242.8 billion won in 2024 and 48.4 billion won in 2025.
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