SK On will seek to attract equity investment to secure preemptive funds before pushing for listing in 2024.
According to the industry on the 25th, SK Innovation, the parent company of SK On, selected Deutsche Securities and JP Morgan as pre-IPO organizers.
It is understood that the organizers are asking for investment opinions mainly from large private equity fund managers. SK expects to raise 3 trillion won through the free IPO. It is 10% of the SK-on enterprise value estimated by the market (30 trillion ~ 35 trillion won).
The secured funds are expected to be spent on projects related to electric vehicle batteries and energy storage devices (ESS).
SK on is building the largest battery production facility in North America in Georgia, USA, and has established a joint venture (JV) with Ford, the second largest finished car company in the US.
Reporter Lee Ji-sun email@example.com