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SK Nexilis wins U.S. jury verdict in battery copper foil patent lawsuit

SK Nexilis won a jury verdict in a U.S. court finding Solus Advanced Materials infringed all five of its battery copper foil patents. A jury at the U.S. District Court for the Eastern District of Texas delivered the verdict on May 22 local time, marking the first judicial decision in the dispute. Solus said it strongly disagreed and would pursue post-trial motions and an appeal, while saying there would be no business disruption.

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.