SK Ocean Plant's stock has dropped more than 10% following the announcement of a share purchase agreement involving a change in its major shareholder.
As of 10:15 a.m. on the Korea Exchange, SK Ocean Plant's shares were trading at 12,370 won, down 1,430 won (10.36%) from the previous trading day.
Earlier, SK Ocean Plant disclosed that its largest shareholder, SK Ecoplant, had signed a share purchase agreement to sell all of its 22,256,969 common shares (35.62%) to D Ocean Asset Management. The transaction is valued at 410 billion won.
D Ocean Asset Management is the acquirer, with Osung Advanced Materials participating as a co-investor. If the transaction is completed by December, the major shareholder of SK Ocean Plant will shift from SK Ecoplant to D Ocean Asset Management.
D Ocean Asset Management has indicated plans to expand the Goseong 3 yard and develop SK Ocean Plant into a key player in the offshore wind and shipbuilding sectors following the acquisition.
SK Ocean Plant operates in the offshore wind substructure and shipbuilding and marine sectors. SK Ecoplant changed its name from its predecessor, Samkang M&T, after acquiring it in 2021.
Market observers are expected to focus on potential changes in management strategy and future investment and business expansion following the major shareholder shift and the large-scale share sale.
* This article has been translated by AI.
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