SKC Makes Additional KRW 92.1 Billion Subscription in Absolics Rights Offering, Bringing Total to KRW 373.1 Billion

[Financial News] SKC will make an additional investment in a rights offering by its subsidiary Absolics to advance its glass substrate business.
SKC disclosed on the 22nd that it would make an additional subscription worth approximately KRW 92.1 billion in Absolics' rights offering. This will bring SKC's total subscription in Absolics to approximately KRW 373.1 billion.
The additional subscription will be funded with resources secured through SKC's KRW 1.1671 trillion rights offering conducted in the first half of this year. SKC previously announced plans to invest approximately KRW 590 billion of that amount in its glass substrate business over the next three years. The company plans to continue investing in stages in line with the progress and milestones of the business.
Absolics, which secured approximately KRW 400 billion through the offering, is pursuing the commercialization of embedded and non-embedded products simultaneously.
Embedded products have completed pre-evaluations of samples produced at the company's plant in Georgia, U.S., and have entered reliability testing. Non-embedded products are also participating in a supplier-selection project for the second half of this year, with Absolics preparing to begin proof-of-concept (PoC) testing within the year.
An SKC official said, "We will proceed with commercialization preparations without a hitch and continue building competitiveness in the next-generation AI semiconductor packaging market."

[email protected] Kim Mi-hee Reporter