Search results for Absolics
Industry
SKC wins 1.17 trillion won rights offering to speed glass substrate investment
SKC said on May 18 its 1.17 trillion won rights offering drew strong demand, with an existing shareholders’ subscription rate of 113 percent and an employee share plan rate of 131.4 percent. It said expectations for earnings improvement and a shift toward semiconductors supported demand. SKC will allocate 589.6 billion won to Absolics, its glass substrate investment unit, and use 577.5 billion won to repay borrowings. It expects its debt ratio to fall to about 129 percent.
Industry
SKC raises funds through rights offering for glass substrate commercialisation
SKC said on Monday it will secure funding for investment in its glass substrate business and move to improve its financial structure through a rights offering worth 1.17 trillion won. The final offer price was set at 99,500 won per share, with 11.73 million new shares to be issued. SKC plans to allocate 589.6 billion won to glass substrate investment and 577.5 billion won to debt repayment, lowering its debt ratio from about 230 percent to about 129 percent.
Industry
SKC declares transparent management, CEO to disclose business update
SKC appointed Kim Jong-woo as its new chief executive and held a shareholder briefing after its annual meeting to disclose its business status and investment plans. The company said it will invest 590 billion won from a 1 trillion won rights offering in its glass substrate unit Absolics and use the remaining 410 billion won to repay borrowings. SKC also outlined turnaround plans for existing businesses and board appointments.
