Go to Contents Go to Navigation

SK Telecom to conduct spinoff in November, split its stock 5-for-1

It 09:19 June 10, 2021

SEOUL, June 10 (Yonhap) -- SK Telecom Co., South Korea's top wireless carrier, approved Thursday its plan to spin off a new investment company to expand its foothold in new tech sectors as well as a five-to-one stock split aimed at improving shareholder value.

The wireless carrier's board of directors approved the spinoff plan and the new company, which will oversee SK Telecom's tech subsidiaries and invest in new tech businesses, will be split on Nov. 1, according to a company regulatory filing.

SK Telecom also approved a 5-for-1 stock split, which will increase the number of its shares to 360,300,715 from 72,060,143.

The wireless carrier had announced the spinoff plan in April in a move to strengthen its tech subsidiaries and increase investment into new sectors, including the semiconductor industry.

yunhwanchae@yna.co.kr
(END)

Keywords
HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!