SK Issues KRW 8.7 Billion Convertible Bonds for Socar Mobility Malaysia Purchase

MT Newswires Live08-03 10:04

SK (KRX:034730) approved the private placement of zero-coupon convertible bonds worth 8.7 billion won, maturing in August 2028 with a conversion price of 544,785 per share.

Proceeds will fund the acquisition of securities issued by Socar Mobility Malaysia, an automotive rental firm, through investments in two private equity vehicles-Eastbridge Asia and Eugene Smart Mobility, according to a bourse filing on Monday.

The bonds carry a put option allowing early redemption starting August 2027 at 0% yield, and are restricted from transfer or splitting for one year following issuance.

Full conversion would add approximately 15,970 new shares, representing a 0.02% dilution of total outstanding shares.

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