Korean Investment PEF Reports Major Holding of SKC Perpetual Exchangeable Bonds for Management Influence

**Major Holding Report**: Korea Investment 2024-1 Private Investment Limited Partnership and 5 other special relations reported acquisition of SKC's 1st unregistered perpetual exchangeable bonds (private placement) to FSC/KRX.
**Financials**: Reporter (limited partnership) has total assets of KRW 153.7 billion, equity of KRW 153.1 billion. Among special relations, Korea Investment & Securities has assets of KRW 21.35 trillion, SK has KRW 11.66 trillion.
**Bond Terms**: Unregistered perpetual exchangeable bonds exchangeable for SKC shares. Issuer granted call option: prohibits hiring IPO underwriter for 3 years, violation triggers put option at IRR 9.5%.
**Tag-along Right**: If majority shareholder (SK) sells shares, investors can sell their exchangeable bonds on same terms.
**Management Influence Purpose**: Report filed under 'purpose to influence management', suggesting potential voting rights exercise and management participation.
**Changes**: Acquisition and assignment contracts executed in June-July 2025; no subsequent changes.

ADVERTISEMENT (250px+)