[Market Now] SK Telecom’s investment funds consider ‘options’ to exit Candle Media

Candle Media, a KOSDAQ-listed mobile content producer, said in its disclosure report Wednesday that its largest shareholders are considering “various options” with regards to their ownership in the company.

It added, however, that no decisions have been made. 

This statement comes as the Korea Exchange sought clarification from the company to verify rumors that the company’s largest shareholders -- SK Telecom’s investment funds -- will sale their shares and exit the company on Tuesday.

SK Telecom’s Open Innovation Fund, High Tech Focus Investment and High Tech Sector Investment are the largest shareholders with a combined 44 percent in Candle Media, which designs mobile texts and bell sounds, according to the company’s audit filing. The Contents Company, a privately held software company, has a 15.23 percent in Candle Media.

By Park Hyong-ki (hkp@heraldcorp.com)