content area
Press Release
On the 16th of July, the company concluded contracts with LG Investment & Securities, Daehan Investment Trust Securities, Samsung Securities, Korea Investment Trust Management & Securities.
The total realized by selling KT’s EB is 340.3 billion Korean won. The company’s equity share in KT was lowered to 9.55% from 11.34%.
On the 16th of July 2002, SK Telecom announced that the company had decided to sell KT’s EBs to four domestic institutional investors and has completed the selling procedures.
The company concluded transaction contracts with LG Investment & Securities (133.2 billion won), Daehan Investment Trust Securities (114.8 billion won), Samsung Securities(82 billion won), Korea Investment Trust Management & Securities(10.3 billion won). The total amount recieved from selling KT’s EBs is 340.3 billion Korean won.
SK Telecom paid 332 billion when the company purchased KT’s EBs. The difference between the purchase and sales amount is 8.3 billion.
An SK Telecom official said that the company decided to sell the EBs to domestic institutional investors on the 12th of July 2002, and expected to complete all specific selling procedures by the beginning of this week. By selling out the EBs, SK Telecom’s equity share in KT was lowered to 9.55% from 11.34%. This will contribute to resolving the overhang issue in the stock market.
The company concluded transaction contracts with LG Investment & Securities (133.2 billion won), Daehan Investment Trust Securities (114.8 billion won), Samsung Securities(82 billion won), Korea Investment Trust Management & Securities(10.3 billion won). The total amount recieved from selling KT’s EBs is 340.3 billion Korean won.
SK Telecom paid 332 billion when the company purchased KT’s EBs. The difference between the purchase and sales amount is 8.3 billion.
An SK Telecom official said that the company decided to sell the EBs to domestic institutional investors on the 12th of July 2002, and expected to complete all specific selling procedures by the beginning of this week. By selling out the EBs, SK Telecom’s equity share in KT was lowered to 9.55% from 11.34%. This will contribute to resolving the overhang issue in the stock market.