In today’s briefing:
- Digging into Chosun Ilbo’s Report on SK Group’s SK Innovation & SK E&S Merger Plans
- Tamboran Resources US Offering – Strong Recent Momentum but CDIs Have Been Volatile Since Listing
Digging into Chosun Ilbo’s Report on SK Group’s SK Innovation & SK E&S Merger Plans
- SK Group plans to merge SK Innovation and 90%-owned SK E&S by month-end. Chosun Ilbo’s report solidifies market confidence due to its credibility and likely intentional leak by SK Group.
- Initially considered but deemed lower priority than SK IE Technology sale; SK Group opts for this alternative due to challenging market conditions for SKITE sale.
- SK Innovation and SKIET rise with hopes of resolving liquidity issues and avoiding sacrifice. SK Inc is negatively impacted by concerns over valuation double counting from this merger.
Tamboran Resources US Offering – Strong Recent Momentum but CDIs Have Been Volatile Since Listing
- Tamboran Resources (TBN AU) is looking to raise US$175m from listing its shares in the US.
- Tamboran Resources is an early stage, independent natural gas exploration and production company.
- In this note, we talk about the deal dynamics and the listing impact.
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