(SKC)
(SKC)

SKC said Thursday it will raise about 1 trillion won ($750 million) through a rights offering to accelerate growth in future businesses and improve its financial health.

The board approved the capital increase, which will be carried out through a shareholder allocation followed by a public offering of unsubscribed shares. The record date is April 7, with subscription scheduled for May 14–15. The final offering price will be determined in mid-May.

SK Inc., SKC’s largest shareholder with a 40.64 percent stake, disclosed that it will participate in the offering with up to 120 percent of its allocated shares, signaling confidence in SKC’s semiconductor materials business.

About 590 billion won, or roughly 60 percent of the proceeds, will be invested in Absolics, SKC’s glass substrate subsidiary, to advance product development. Absolics has recently made progress in development projects with global Big Tech clients and is strengthening execution under new CEO Kim Jong-woo, a former Intel and SK hynix executive.

The company plans a two-track strategy, developing both embedded and nonembedded glass substrates for AI data centers to speed commercialization and secure timely market entry.

The remaining 410 billion won will be used to repay debt, reducing financing costs and improving leverage. SKC expects its debt-to-equity ratio to fall from around 230 percent at the end of 2025 to the low 140 percent range following the capital increase.

The company said improving fundamentals in its copper foil and semiconductor materials businesses, including strong growth at ISC and cost restructuring at SK Nexilis, will further support its turnaround.

“This capital increase will reinforce growth in future businesses such as semiconductor materials while strengthening our financial foundation,” an SKC official said. “We will accelerate Absolics’ growth and enhance shareholder value.”


yeeun@heraldcorp.com