SK Square selling up to $198 mln of Krafton shares in block trade, term sheet says (updated)

SK Square Co

22/04/2024 10:39

(Adds details from paragraph 3)
       SYDNEY, April 22 (Reuters) - Korea's SK Square
 402340.KS  is selling up to $198 million worth of Krafton Inc
 259960.KS  shares in a block trade on Monday, according to a
term sheet seen by Reuters.
    The shares are being offered in a price range of 243,000 to
251,000 Korean won ($176-$182), the term sheet said.
    SK Square is offloading 1.08 million shares in the block
trade, which represents about 2.24% of games maker Krafton total
shares on issue.
        Krafton shares closed on Monday at 259,000 won, up 2%,
and the stock is trading nearly 34% higher so far this year.
  
        Krafton and SK Square did not immediately respond to a
request for comment sent outside of normal business hours.
  
        
  
    
($1 = 1,379.4100 won)

 (Reporting by Scott Murdoch, Editing by Louise Heavens)
 ((Scott.Murdoch@thomsonreuters.com;))