SK Telecom hands over NOSK for SK Telink stocks

[THE INVESTOR] SK Telecom  announced on Sept. 23 that it has decided on an in-kind contribution of 408,435 stocks of its subsidiary, NOSK, which is worth 40.3 billion won (US$36.43 million). In return, it will receive SK Telink’ 219,967 new stocks worth the same amount.

SK Telecom headquarters in downtown Seoul

SK Telecom will also transfer a call option of NOSK’s 16.07 percent stocks to SK Telink in a bid to make NOSK the latter’s new subsidiary.

By acquiring NOSK, SK Telink plans to nurture security business as a new growth engine, according to the company. 

SK Telecom will have an 86.86 percent stake in SK Telink, owning 1.30 million shares.

By Park Yuna (yunapark@heraldcorp.com)