SKC announced on Thursday a plan to raise approximately 1 trillion won ($750 million) through a rights offering, aimed at fueling growth in its future business ventures and bolstering its overall financial stability.
The board of directors has given the green light to the capital increase, which will be implemented through a shareholder allocation followed by a public offering of any unsubscribed shares. The designated record date is April 7, with the subscription period scheduled for May 14–15. The final offering price will be determined around mid-May.
SK Inc., the largest shareholder of SKC, holding a 40.64 percent stake, has publicly stated its intention to participate in the offering with up to 120 percent of its allocated shares, demonstrating strong confidence in SKC’s semiconductor materials division.
Approximately 590 billion won, representing roughly 60 percent of the total proceeds, will be strategically invested in Absolics, SKC’s glass substrate subsidiary, to expedite product development. Absolics has recently achieved significant progress in development projects with major global technology companies and is enhancing its operational efficiency under the leadership of its new CEO, Kim Jong-woo, a former executive at Intel and SK hynix.
The company is pursuing a dual-track strategy, focusing on developing both embedded and non-embedded glass substrates for AI data centers to accelerate commercialization and ensure timely entry into the market.
The remaining 410 billion won will be allocated to debt repayment, which is projected to lower financing costs and improve leverage. SKC anticipates its debt-to-equity ratio to decrease from approximately 230 percent at the close of 2025 to the low 140 percent range following the completion of the capital increase.
The company stated that improving fundamentals in its copper foil and semiconductor materials businesses, including strong growth at ISC and cost restructuring at SK Nexilis, will further support its turnaround.
“This capital increase will reinforce growth in future businesses such as semiconductor materials while strengthening our financial foundation,” stated an SKC official. “We will accelerate Absolics’ growth and enhance shareholder value.”
yeeun
