SK Group has decided to delist its subsidiary SK Signet and will initiate a tender offer to buy back shares from minority shareholders. This move aims to protect the rights of small shareholders while accelerating portfolio rebalancing.
On July 24, SK announced its decision to conduct a tender offer for common shares of SK Signet, which is listed on the KONEX. The tender offer price is set at 8,200 won per share, which is more than 20% higher than the weighted average price over the past month.
The tender offer period will last for one month, from today until August 24. During this time, SK plans to purchase up to approximately 10 million shares of both common and preferred stock of SK Signet.
NH Investment & Securities will manage the tender offer, and interested shareholders can sell their shares by visiting NH Investment & Securities branches or through an online platform. Following the tender offer, a comprehensive stock exchange process will be carried out to delist SK Signet.
Typically, a comprehensive stock exchange can secure 100% ownership during the delisting process. However, SK has opted to conduct a tender offer first to provide general shareholders with an opportunity to sell at a premium compared to market prices.
SK plans to acquire shares from shareholders who do not participate in the tender offer through the stock exchange method.
SK aims to complete the delisting of SK Signet and its transition to a wholly-owned subsidiary by the fourth quarter and finalize the sale of SK Signet by the first quarter of next year, thereby accelerating proactive portfolio rebalancing.
This tender offer aligns with recent capital market policies emphasizing the protection of minority shareholders. The Financial Services Commission is working on a mandatory tender offer system that would require companies acquiring large stakes to buy shares from minority shareholders at the same price and conditions as the majority shareholder.
Founded in 1998, SK Signet specializes in electric vehicle charging solutions and was integrated into SK in 2021, providing customized charging solutions focused on rapid and ultra-fast charging. The company reported 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 stated, "This tender offer is a decision made to fulfill our responsibility in enhancing the value for minority shareholders ahead of the sale of SK Signet. Currently, there are no specific confirmed details beyond the plan to fully integrate it as a subsidiary before the sale."
Meanwhile, the sale of SK Signet is seen as part of SK Group's ongoing portfolio rebalancing efforts. Since 2023, SK Group has been working to divest non-core assets and secure investment resources focused on future growth sectors such as artificial intelligence and semiconductors. Following the sales of SK Siltron and SK Specialty, SK Signet has also been added to the list of assets being streamlined.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.