AT Semicon Resolves Capital Impairment through Free Capital Reduction... "Pursuing New Business Based on Improved Financial Structure"

[Asia Economy Reporter Jang Hyowon] AT Semicon, a total solution company for semiconductor back-end processes, announced on the 10th that it will resolve capital erosion through a free capital reduction and actively promote new businesses based on the improved financial structure.

A company official said, "After completing a 10-to-1 free capital reduction of common stock, trading of AT Semicon shares resumed on the 6th," adding, "Having succeeded in improving the financial structure through the capital reduction, we plan to strengthen the existing semiconductor business and actively promote new businesses, as well as complete the acquisition of Leaders Technology Investment soon."

AT Semicon's capital was reduced from 71.8 billion KRW to 7.1 billion KRW through the free capital reduction completed on the 23rd of last month. Before the reduction, the capital erosion rate was 40.9%, but after completion, all capital erosion issues were resolved.

Having completed the financial structure improvement, AT Semicon decided to further increase the scale of its stake acquisition in Leaders Technology Investment, a new technology investment specialized company. On the 7th, it signed a stock transfer amendment contract and increased the number of shares to be acquired from 20 million to 23,465,308 shares. Upon completion of the stock acquisition, it will secure a 23.9% stake in Leaders Technology Investment.

To secure funds for acquiring Leaders Technology Investment shares, AT Semicon decided on the 7th to issue convertible bonds (CB) worth 20 billion KRW. Eugene AT First Company Limited will acquire the convertible bonds, with the payment date set for the 11th.

A company official stated, "Once the remaining payment for the stock transfer is completed on the 12th, AT Semicon will become the largest shareholder of Leaders Technology Investment," and added, "After the acquisition, we plan to actively utilize the network and solutions related to new technology investments held by Leaders Technology Investment."

This content was produced with the assistance of AI translation services.