SEOUL, Feb. 24 (Korea Bizwire) — SK Holdings Co., the holding firm of South Korean conglomerate SK Group, ranked No. 1 among all stocks listed on the main bourse in terms of conversion prices, the Korea Exchange (KRX) said Sunday.
The conversion price of SK Holdings was 6,775,000 won (US$6,022) based on Friday’s closing price of 271,000 won per share, according to the KRX. This was followed by Naver, Korea’s dominant Internet portal and search engine, with 6,350,000 won and the country’s foremost mobile game publisher Netmarble with 5,925,000 won.
The KRX calculated the converted price of a stock by setting the face value of all listed stocks on the main exchange at 5,000 won per share.
SK Group has the profitable affiliates SK hynix Inc., the world’s second-biggest chipmaker by sales, the country’s leading wireless services provider SK Telecom Co. and SK Biopharmaceuticals under its wing.
This month, SK Biopharmaceuticals signed a licensing agreement with Swiss drug company Arvelle to commercialize cenobamate, an investigational antiepileptic drug that the Korean firm has developed in the past few years.
If the new drug obtains an approval from the U.S. Food and Drug Administration for sale, experts say the value of the biotech company will soar, adding value to the chip-to-telecom conglomerate.