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Skai worldwide · 357880 · Software

Skai worldwide Plans ₩25.4B Related-Party Share Purchase Funded by ₩22.8B Perpetual Convertible Bond

Why this report

Written after:

On 2026-10-21 Skai worldwide decided to buy a 66.9% stake in Sky Intelligence, a company linked to its largest shareholder, for ₩25.4B, paying mostly with a new ₩22.8B perpetual convertible bond. The deal is large for a company of this size and could add about 20.4% to the share count, which adds a new dilution and governance question to the earlier picture of financial strain.

Written Oct 21, 2026 · Data as of Oct 20, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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What happened

Two filings were made on 2026-10-21. The first is a decision to acquire 6,500 shares of Sky Intelligence (advertising planning and production) for ₩25.35B. That equals 65.9% of total assets (₩38.5B) and 76.6% of equity (₩33.1B). After the purchase the company would hold 17,343 shares, or 66.9%. The seller is Sky Directors, the largest shareholder of Skai worldwide, and Sky Intelligence is described as a related party of that shareholder. An outside valuer, Dowon Accounting, gave an opinion of 'appropriate'. The stated aims are new business entry and diversification, plus gaining control to reorganise the group. The filing says no specific restructuring is decided.

Payment has two parts. A ₩22.815B down payment is due 2026-10-29, paid by issuing the company's 7th perpetual convertible bond. The remaining ₩2.535B is due in cash on 2027-01-28, the expected completion date, which may change.

The second filing sets the bond terms: a privately placed, unsecured perpetual convertible bond of ₩22.815B, 2.0% coupon, maturing 2056-10-29. The conversion price is ₩1,602 per share, with conversion possible from 2027-10-29. Full conversion would create 14,241,573 new shares, or 20.4% of the share count. The conversion price can be adjusted downward under certain conditions. A separate filing on the same day, on debt securities recognised as capital, is listed but its details are not available to us.

As background, a 5%+ holder report on 2026-10-13 showed Sky Directors at 26.9%, down 0.6 points.

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Model estimate of fair value

The valuation model has no estimate for this company yet (not enough data, or no positive value with the base case).

Filings and data used

Report history

  1. Oct 23, 2026Update noteBig price moveSkai worldwide Shares Jump 27.4% in Five Days on Heavy Volume
  2. Oct 21, 2026Update noteNew shares / dilution · M&A / restructuringSkai worldwide Plans ₩25.4B Related-Party Share Purchase Funded by ₩22.8B Perpetual Convertible Bond
  3. Oct 14, 2026InitiationStart of coverage (reader request)Skai worldwide: Shrinking Revenue, Deepening Losses and a Recent Rights Offering

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information