[Infostock Daily= Reporter An Hoe Hyun] Hana Financial Investment on the 14th cited SK Telecom's restructuring of its governance structure through physical division and its push to list its subsidiaries as factors for the rise in stock prices. The investment opinion was 'BUY' and the target price remained at 300,000 won.
"SKT is currently buying treasury stocks worth 500 billion won, but it does not show a resilient share price rise yet," the company said, adding, "Since the increase in the proportion of MSCI transfer, foreign sales have slowed down, while institutional sales have continued."
"The improvement in 3Q earnings will also help share prices, but we believe that the restructuring of the governance structure expected for the third quarter of next year will become an issue," the company explained.
The restructuring of the governance structure will be carried out through physical division. "The IPO will be carried out with 1 trillion won in One Store in 2021, 2 trillion won in ADT Caps, 3 trillion won in 11th Street in 2022, and 5 trillion won in SK Broadband, which could lead to a reassessment of corporate value," the company said, adding, "As M & A is likely to be handled by mid-capital shareholders in the future, dividends for mid-capital shareholders are expected to increase due to the increase in dividend payout ratio between SKT Mobile and Hynix."
Reporter An Hoe Hyun ahh@infostock.co.kr
