SK Securities No.13 Special Purpose Acquisition에스케이증권제13호스팩

SK Securities No.13 is a small special purpose acquisition company with no operating business, so its shares mainly reflect its cash and listing status.

This is a KOSDAQ-listed blank-check vehicle (SPAC) in the financials sector, trading at ₩2,055 with a market cap of about ₩9.1B and an enterprise value of about ₩7.4B. The data shows no revenue, a small operating loss, and net income of about ₩73M over the trailing twelve months to H1 2026, with cash of about ₩1.7B. The company profile and news headlines are not in the data.

What stands out

• Trailing operating income is negative (about -₩40M) while net income is positive (about ₩73M), so the profit appears to come from non-operating items such as interest income, which the data does not break out.
• Revenue and margins are not reported, consistent with a shell company that has no operating business.
• The share price has barely moved: +0.2% over one month, +1.2% over three months and +0.5% over one year, trading between ₩2,010 and ₩2,077 over 52 weeks.
• Valuation metrics like P/E (about 124x) are not very meaningful for a company with almost no earnings; price-to-book is about 1x.
• Investor flows over 20 days show net selling by foreign and institutional holders and net buying by retail, and foreign ownership fell from 0.4% to 0.3% over 60 days.

What to watch

• The half-year report (Jun 2026) was filed on 2026-08-11, and the filings list points to the deposit and trust agreement changes in July 2026 as the most recent corporate matter; the data does not say what these changes mean for shareholders.
• Any future announcement of a target business or merger, which is not in the data and would determine the company's future direction.
• Whether the company's cash balance and interest income continue to cover its small operating costs.