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Photo = SK on |
[Alpha Biz= Reporter Kim Jisun] SK On has decided to conduct a capital increase of 500 billion won, just one month after raising 1 trillion won through a capital increase earlier this month.
SK Innovation announced in a public filing on the 7th that its subsidiary, SK On, would proceed with a third-party allocation capital increase of 500 billion won.
The company plans to issue 9,015,667 new common shares at a price of 55,459 won per share. Investors include MS Energy First Co., Ltd. (5,409,401 shares), MS Energy Second Co., Ltd. (1,803,133 shares), and MS Energy Third Co., Ltd. (1,803,133 shares).
The PRS (Price Risk Sharing) structure entails compensation if the value of the newly issued shares fluctuates from the reference price at the time of repurchase. If SK On’s stock price is lower than the acquisition price when investors sell, SK On must cover the difference. Conversely, if the stock price is higher, the financial firm will pay SK On the increased amount. SK On used this PRS approach for its 1 trillion won capital increase last month.
Despite a temporary slowdown in electric vehicle (EV) demand—often called the EV “chasm”—which has dampened profitability, SK On chose the PRS model, reflecting expectations that its share value will increase in the medium to long term as EV adoption continues.
Meanwhile, SK On posted an operating profit of 24 billion won in the third quarter, marking its first quarterly profit since it became an independent entity in October 2021.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
