SK Networks to boost holding in Australian coal miner

摘要

South Korean company SK Networks plans to increase its stake in Australian metallurgical coal producer Cockatoo from 5.5% to 40% through a share subscription worth 313 million Australia dollars (329 million dollars), the latter said in a statement Monday. SK Networks has signed an initial agreement to purchase 585 million new shares in Cockatoo Coal at 0.53 Australia dollars/ share and priced at a 47% premium to its closing share price of 0.36 Australia dollars/share on Friday.