SKC Rights Offering Fully Subscribed... Existing Shareholder Subscription Rate at 113%

Employee Stock Ownership Plan Subscription Rate Reaches 131%

Debt Ratio Expected to Drop to 129% Through Debt Repayment

Positive EBITDA Achieved After 10 Quarters

SKC has successfully completed a rights offering worth KRW 1.1671 trillion, with both existing shareholders and employee subscribers showing oversubscription rates, signaling strong market interest. The positive sentiment among investors is attributed to the company’s strategic shift toward semiconductor-centered businesses and growth expectations for its glass substrate operations.

SKC.

According to SKC on May 18, the subscription rate for existing shareholders in this rights offering reached 113.01%, exceeding the allotted shares. The employee subscription rate also stood at 131.4%.

SKC explained that the strong demand was driven by recent improvements in earnings and market expectations for its semiconductor-focused business restructuring strategy. In particular, the company’s return to positive EBITDA for the first time in ten quarters and the anticipated commercialization of the glass substrate business were cited as positive factors.

The company plans to use the capital raised through this rights offering to secure future growth engines and improve its financial structure.

Specifically, it will invest KRW 589.6 billion in Absolix, an investment company in the semiconductor glass substrate sector, to accelerate commercialization. The remaining KRW 577.5 billion will be used to repay borrowings and further strengthen financial stability.

As a result, the company’s debt-to-equity ratio, which was about 230% as of the end of last year, is expected to decrease to around 129%.

An SKC official stated, "The successful rights offering confirms market confidence in our next-generation growth businesses, such as the glass substrate business, and the company’s structural improvement direction. With the funds secured, we will accelerate our efforts to lead the global glass substrate market and enhance financial stability."

Meanwhile, a public offering for 23,687 fractional shares that arose during the subscription process will be held from May 19 to 20. The new shares are scheduled to be listed on June 8.

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