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.