SK Telecom announced it has filed a registration statement with Korea’s Minister of Finance and Economy, completing a $100 million offering of nearly 19 million American Depository Receipts. The ADR shares were priced at $5.24 each.
The Seoul, South Korea-based wireless carrier said the proceeds from the offering, which was managed by SBC Warburg, Dillon Read and Sunkyong Securities, will be used to purchase equipment.
SK Telecom reports it has 2.8 million digital subscribers and 1.6 million customers on its analog network.
SK Telecom is listed on the London Stock Exchange, New York Stock Exchange and Korea Stock Exchange.
