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[Alpha Biz=(Chicago) Reporter Kim Jisun] As SK Innovation's 1.1 trillion won shareholder allocation paid-in capital increase subscription is not enough, attention is being paid to whether the actual shares will be successful or not.
According to the Financial Supervisory Service's electronic disclosure system on the 13th, SK Innovation applied for 7,179,664 shares as a result of its initial public offering 8.19 million common shares to the employee stock ownership association and existing shareholders (holders of the certificate of new shares) for two days from the 11th to the 12th. The subscription rate is 87.66%.
By target, the employee stock ownership association subscribed 1,045,368 shares, while the number of shares holding certificates of subscription, including existing shareholders, stood at 5,838,490 shares.
With 336 forfeited stock 101 shares occurring, SK Innovation will hold a public offering for two days from this day to the 15th. The issuing price of the paid-in capital increase is 139,600 won.
Immediately after the announcement, SK Innovation's stock price plummeted. In three months, the 160,000 won line collapsed and closed at 159,900 won (based on the closing price on the 13th), down 4.25% from the previous day. Analysts say that the amount of sales poured out as the subscription rate for shareholder allocation paid-in capital increase was lower than expected.
As in the case of CJ CGV, the market predicts that large-scale funds can be attracted to SK Innovation's forfeited stock public offering.
In the case of CJ CGV, it was successful with a total of 3.3 trillion won in funds for the general public offering of forfeited stock. The competition was 75.7 to 1. As a result, CJ CGV succeeded in securing 415.3 billion won in funds by stably completing the subscription of actual shares.
SK Innovation has previously expressed its willingness to secure growth engines by making the most of the capital raised through paid-in capital increase for future energy investment and R&D infrastructure expansion.
If about 1.14 trillion won in funds are secured through a paid-in capital increase, 827.7 billion won, which is more than 70 percent, will be used to invest in the future energy sector and create an R&D base that supports it, while the remaining 315.6 billion won will be used to repay debts to improve its financial structure.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
