SK Innovation Co Ltd confirmed plans to make its battery business a stand-alone unit, sending its shares down as much as much as 7.9per cent in ...
SEOUL: SK Innovation confirmed plans to make its battery business a stand-alone unit, sending its shares down as much as much as 7.9 per cent in morning trade to hit a near four-month low.
The company said it expected refining margins to gradually improve in the second half as COVID-19 retreats and demand rebounded. "These split-offs are meant to preemptively strengthen fundamental competitiveness by building a management system suitable for the characteristics of each business," Kim Jong Hoon, SK Innovation's board chairman, said in a statement.
Rival LG Energy Solution Ltd , wholly owned by LG Chem Ltd's from which it was carved out last year, plans to go public this year. LGES counts Tesla Inc, General Motors Co and Hyundai Motor Co among its customers.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European, US gaming stocks hit as China's Tencent slidesShares in Europe-listed gaming companies fell on Tuesday and U.S. names were tipped to open lower after a steep selloff in China's social media ...
Read more »
China's Tencent woes hit European and US gaming stocksShares in Europe-listed gaming companies fell on Tuesday and U.S. names were tipped to open lower after a steep selloff in China's social media ...
Read more »
China's Shanshan to invest US$1.2 billion to boost battery materials outputREUTERS: Chinese battery materials producer Ningbo Shanshan said on Monday it would invest 8 billion yuan (US$1.24 billion) in new facilities ...
Read more »
Tencent falls after China media calls online gaming 'spiritual opium'Shares of online gaming companies, including Tencent Holdings and Netease Inc, tumbled on Tuesday after Chinese state media called the business ...
Read more »
Pakistan consumer inflation rate falls to 8.4per cent in JulyPakistan's Consumer Price Index (CPI) rose 8.4per cent in July compared with a year earlier, easing from June, the statistics bureau said on Monday.
Read more »