SKC will secure a 100% stake in its subsidiary SKC Solmics, the company said on Wednesday.
SKC will buy 42.3%, equivalent to 25,972,532 shares, stake of SKC Solmics through tender offer and comprehensive share swap to make it a wholly owned subsidiary, it decided in a board meeting.
The public takeover will run from August 13 to September 2. A premium will be added to the share price. Shares that don’t take part in the offer will be swapped with SKC shares. Swap ratio will be between SKC and SKC Solmics will be 1 to 14.52 shares.
SKC said it will grow its semiconductor materials and components business further after the takeover.
SKC Solmics produces semiconductor production components such as silicon, quartz, alumina and silicon carbide. It is expanding to semiconductor cleaning. It has built a cleaning factory in Wuxi, China, which go live next year.
SKC described the takeover as the second stage of its business model innovation. SKC has previously said the inauguration of SK Nexilis as its first stage of business model innovation.
SKC has been expanding its semiconductor materials business. It completed its high-end blank mask factory last year which is getting approval from clients. It plans to commercialize the line next year.
The company was also building a chemical-mechanical polishing factory in Cheonan.
