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[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Networks is going to take a tender offer for its subsidiary SK Rent-A-Car.
SK Networks plans to increase SK Networks' corporate value by securing a 100% stake in the company and delisting it.
SK Networks announced on the 18th that it held a temporary board meeting and decided to incorporate SK Rent-a-Car as a 100% subsidiary. Currently, SK Networks' stake in SK Rent-a-Car is 72.9%, and the distribution volume in the stock market is limited.
SK Networks will publicly purchase SK Rent-a-Car shares for 13,500 won per share from the 21st to the 11th of next month. The closing price of SK Rent-a-Car on the 18th is 12,770 won. Afterwards, the remaining stocks will be secured further through a small stock exchange process. SK Rent-a-Car will be delisted at the end of January next year.
This month, the stock price of SK Rent-a-Car has been attracting attention for 52 weeks. It has doubled since the beginning of this year.
SK Networks acquired AJ Rent-a-Car in 2019 and launched SK Rent-a-Car by combining the existing rental car business headquarters.
Since then, it has continued to innovate in mobility by introducing Direct, a long-term rental car online channel, and launching Tago Pay, a mileage-based rate plan product.
SK Rent-a-Car recorded sales and operating profit of 354.7 billion won and 30.7 billion won, respectively, in the second quarter. Compared to the same period last year, it increased by 18.6% and 12.7%, respectively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
