SK ecoplant said April 28 it held a board meeting at its headquarters in Susong-dong, Jongno-gu, Seoul, and approved calling an extraordinary shareholders meeting to proceed with a share buyback.
The buyback will cover about 1.33 million shares of convertible preferred stock, or CPS, issued in 2022. Of that, SK will purchase part of the CPS held by financial investors, valued at 200 billion won. SK ecoplant will acquire the remaining portion, valued at 650 billion won.
The company said it is pursuing redemption of the CPS after weighing factors including easing future financial burdens such as dividends and protecting shareholder interests. It said the redemption will be funded with its own cash and other internal resources, without separate external financing.
SK ecoplant has been accelerating a rebalancing effort to reshape its business around semiconductor and artificial intelligence infrastructure. The company said it is building semiconductor fabrication facilities and AI data centers while securing a value chain spanning key semiconductor materials, industrial gases, semiconductor module products and recycling. It said AI infrastructure-related businesses accounted for 67% of its revenue last year.
An SK ecoplant official said the company will continue to raise corporate value by strengthening profitability and financial soundness based on its differentiated competitiveness in semiconductors and AI infrastructure.
* This article has been translated by AI.
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