SKC Absolix Launches 400 Billion Won Rights Offering to Accelerate Glass Substrate Commercialization

Raises 401.1 Billion Won Through Allotment to Existing Shareholders
Aims for Yield Enhancement and Facility & Equipment Upgrades

Absolics, the glass substrate business investment company of SKC, has launched a rights offering worth approximately 400 billion won to secure the funds necessary for commercialization.

SKC CI. SKC

On August 21, SKC announced in a regulatory filing that Absolics has decided to conduct a rights offering totaling 401.1 billion won through an allotment to existing shareholders.

Absolics plans to concentrate the newly-raised funds on the evaluation of glass substrates and customer certification. Some facilities and equipment will also be upgraded to enhance overall process yields and product quality.

Based on these efforts, Absolics intends to accelerate its two-track strategy to commercialize both "embedding" and "non-embedding" products simultaneously. The "embedding" products have already undergone successful preliminary evaluations such as the verification of electrical properties of samples produced at the Georgia, USA plant and have now entered the reliability assessment phase. As for the "non-embedding" products, Absolics is currently participating in a project where a supplier is set to be selected in the second half of this year, and depending on the final selection results, proof-of-concept (PoC) testing is slated to begin within the year.

Going forward, Absolics plans to make additional investments in line with customer evaluations and stepwise milestones. The immediate focus will be on stably meeting the quality standards demanded by customers, while large-scale capacity expansion and further investments will be reviewed based on this foundation.

An SKC representative stated, "Through this proactive capital raising, we will drive Absolics' glass substrate commercialization without delay, further ramping up preparations for mass production. We will continue to strengthen our overwhelming technology leadership in the next-generation semiconductor packaging market through close collaboration with strategic partners."

Currently, SKC holds a 70.05% stake in Absolics, with Applied Materials (AMAT) having a 29.95% stake. The subscription for new shares will proceed according to each shareholder's internal procedures. In the event of forfeited shares, allocations will be made to existing shareholders and third parties in accordance with shareholder agreements.

This content was produced with the assistance of AI translation services.