SK ecoplant raises $771 mn in pre-IPO financing rounds
The company disclosed Friday it will assign 1,333,334 convertible preferred shares worth 600 billion won to third-party investors, including Premier Partners and IUM Private Equity on July 22. Convertible preferred stock is categorized as an asset under the International Financial Reporting Standards.
The sale follows 400 billion won worth of redeemable convertible preferred shares issued on Thursday.
Through 1 trillion won injection, its debt ratio is projected to go down to around 300 percent at the end of this year from 362 percent in March, said SK ecoplant.
The company plans to use the proceeds from the latest financing round on environment and renewable energy projects.
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