SKS Technologies sells 10 million shares
- Major shareholders completed an on-market sale of 10 million shares.
- The stock fell down to $10.02 per share following the announcement.
- The transaction aimed to diversify family wealth and increase share marketability.
SKS Technologies Group (ASX:SKS) directors completed an on-market crossing of 10 million shares following strong inbound investor demand.
The sale represents approximately 30% of the total holdings owned by the Jinks family.
The company stated that the transaction was executed to support share liquidity and enable wealth diversification.
Following the completed sale, the Jinks family retains a 21% stake and will remain the majority shareholder.
Following the announcement, the SKS Technologies Group share price was down at $10.02.
On Aug. 18, the company projected FY27 sales revenue of $500 million alongside profit before tax of $60 million.
On Oct. 6, the company secured a $38 million contract extension for the MEL2 data centre project, bringing total contracted work on hand to $270 million.
