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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, South Korea – October 22, 2025 – SK Innovation Co., Ltd. announced that it has approved the issuance of ₩600 billion (approx. US$430 million) in convertible bonds (CBs) to finance the acquisition of SK On shares held by financial investors (FIs). The decision was made during an extraordinary board meeting held on October 22.
The unsecured private convertible bonds will mature on October 31, 2027, with proceeds earmarked for purchasing SK On equity currently owned by financial investors. The bonds will be zero-coupon and issued to a consortium led by Korea Investment Partners Private Equity (KIP PE).
According to SK Innovation, the consortium decided to reinvest half of its previous ₩1.2 trillion investment into SK Innovation through this CB issuance, reflecting continued confidence in the company’s and SK On’s long-term growth potential.
In July 2025, SK Innovation announced plans to merge SK On and SK Enmove, taking over the entire ₩3.59 trillion investment from financial investors. With the latest convertible bond issuance and equity acquisition, SK Innovation is expected to complete its ownership restructuring with financial investors in the coming months.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
