SKC to raise 1.2 tln won through rights offering to invest in glass subst...

SKC-rights offering

SKC to raise 1.2 tln won through rights offering to invest in glass substrate

SEOUL, May 12 (Yonhap) -- SKC Ltd., the chemical and materials arm of SK Group, said Tuesday it will issue new shares worth 1.16 trillion won (US$786.6 million) to invest in its glass substrate business and improve its financial structure.

SKC said it plans to issue 11.7 million new shares at 99,500 won each, with the shares set to be listed on June 8. Existing shareholders will be given rights to subscribe to the new shares Thursday and Friday.

The company said it will invest 589.6 billion won in its glass substrate business, a key material for next-generation semiconductors, while using the remainder of the proceeds to repay debt.

SKC is developing semiconductor glass substrates through Absolics, its U.S.-based subsidiary jointly established with Applied Materials, the world's largest semiconductor equipment maker.

The company said the capital raising would lower its debt ratio to about 129 percent from around 230 percent at the end of last year. This would require using 577.5 billion won from the proceeds of its latest offering.

SKC CEO Kim Jong-woo speaks during a shareholders' meeting at the company headquarters in Seoul on March 26, 2026, in this file photo provided by the company. (PHOTO NOT FOR SALE) (Yonhap)