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[Alpha Biz=(Chicago) Reporter Kim Jisun] SK On, a battery subsidiary of SK Innovation, has attracted an additional investment of 530 billion won. SKon explained that the amount of investment attracted before listing since last year exceeded the target (4 trillion won) and reached nearly 5 trillion won.
On the 8th, SK Innovation held a board meeting and approved the signing of a shareholder contract to attract SK On investment. It has been 9 days (as of business day) since the previous investment was successful. It is a contract between SK Innovation, SK Ion, and new financial investors, and SK Ion receives about $ 400 million (about 530 billion won) from new investors. Three companies, including ENGZ Holdings, a company mainly operating in Singapore, will provide funds by purchasing convertible preferred shares issued by SKON (a preferred stock that can be converted into ordinary shares after a certain period of time).
Including the investment decided on the day, SKion will raise up to 4.97 trillion won in equity investment from last year. SKon has been conducting free IPO (attraction of investment before listing) since last year, and the target amount was 4 trillion won. SKON has previously attracted a limited investment of 1.2 trillion won from the Korea Investment PE East Bridge Consortium, 2 trillion won from its parent company SK Innovation, 800 million dollars (about 1.4 trillion won) and 144 million dollars (about 190 billion won) from MBK Consortium and SNB Capital.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
