SK Broadband set to conduct capital increase

SEOUL, May 21 (Yonahp) -- SK Broadband Co., South Korea's second-largest operator
of broadband Internet, said Thursday it plans to raise 300 billion won (US$240.6
million) by selling shares.
SK Broadband said it decided to issue 60 million common shares, or 25 percent of
its outstanding shares, at a discount rate of 20 percent.
"The planned capital increase is designed to secure money for new businesses in
the future," the company said.
SK Broadband is the Internet arm of South Korea's largest mobile carrier, SK
Telecom Co., which bought Hanarotelecom Inc. in September last year and renamed
it SK Broadband.
SK Broadband posted a net loss of 9.4 billion won in the first quarter of this
year, its second consecutive quarterly loss.
ygkim@yna.co.kr
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