SK Telecom to conduct spinoff in November, split its stock 5 to 1
Jun 10, 2021
SK Telecom Co., South Korea's top wireless carrier, decided Thursday to spin off a new investment company in November to expand its foothold in new tech sectors, as well as conduct a 5-for-1 stock split aimed at improving shareholder value. The wireless carrier's board of directors approved the spinoff plan, and the new company, tentatively named SKT Investment Co., will be split on Nov. 1, according to a company regulatory filing. Under the spinoff, SK Telecom's shares will be divided 6-for-4