SK Square initiates $195 mn Krafton stake sale

[Courtesy of Krafton Inc.]

SK Square Co. initiated the sale of its stake in video game publisher Krafton Inc., which is valued at around 270 billion won ($195 million). According to sources from the investment banking (IB) industry on Monday, SK Square carried out a demand projection post-market closure to begin selling its 2.2 percent holding in Krafton through a block deal.

The company aims to set a price between 243,000 and 251,000 won per share, or a discount of 3.1 to 6.2 percent to the block reference price of 259,000 won per share. The total volume will fall between 263.8 billion and 272.5 billion won.

Following the close of the regular trading session on Monday, SK Square conducted a demand projection for the stake sale among domestic and foreign fund managers. The block deal will be completed before the market opens on Tuesday.