SL Bionics Secures Additional 5.1 Billion KRW Stake in Studio Santa Claus

[Asia Economy Reporter Jang Hyowon] SL Bionics announced on the 7th that it exercised the conversion rights of 5.1 billion KRW of the 4th series convertible bonds (CB) of its subsidiary ‘Studio Santa Claus’ and newly acquired 531,250 shares to strengthen governance and generate investment returns.

SL Bionics acquired an additional 531,250 new shares through the exercise of the 4th series CB conversion rights of Studio Santa Claus, increasing its holdings from the existing 719,863 shares (9.67%) to 1,251,113 shares (15.69%).

Studio Santa Claus is a comprehensive entertainment company that recently produced the Netflix series ‘My Name,’ which maintained the global No. 2 position, and is reportedly preparing to diversify into new businesses such as NFT and metaverse.

A representative of Studio Santa Claus said, “Although performance was improving recently through ‘My Name,’ the high debt ratio prevented a proper corporate valuation. However, the reduction in debt ratio due to this conversion rights exercise is expected to contribute not only to enhancing corporate value but also to maximizing shareholder value.”

An SL Bionics representative said, “This decision was made after comprehensively considering the significant increase in corporate value and profitability as Studio Santa Claus recently entered businesses related to NFT and metaverse. We will improve governance by expanding our shareholding, strengthen the cooperative relationship between the two companies, and seek management stabilization through profit generation from investments.”

Meanwhile, SL Bionics announced last November that it acquired 10 billion KRW of convertible bonds to generate investment returns and strengthen control over its affiliate, Nexton Bio.

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