Ecopro and Ecopro HN Decide on 120% Subscription for Paid-in Capital Increase
On the 25th, EcoPro announced that it will invest a total of 60.6 billion KRW to secure 1,715,695 common shares in the rights offering of its family company, EcoPro HN, where it is the largest shareholder.
EcoPro's basic allocation of new shares is 1,429,746 shares, but it decided to purchase shares up to the maximum limit of 20% for additional subscription rights granted to existing shareholders.
EcoPro stated, "We decided to participate in the rights offering at 120% subscription to support EcoPro HN's efforts to expand new businesses and secure future growth engines, as well as to strengthen the secondary battery value chain within the group and maximize business synergy."
EcoPro HN will finalize the issue price in December and proceed with the rights offering subscription process. The new shares are scheduled to be listed on December 26.
Hot Picks Today
Chairman Hyun-joo Park: "If Only Dividends Had Increased, There Would Be No Samsung or SK hynix"…Emphasizes Investment First
- "No More Remote Work? 'I'll Quit'...Japanese Companies Increasing Office Attendance Face Growing Pushback"
- Kakao Games Confirms 'Path of Exile 2' Release Date for December 12
- Children, Grandchildren, and Great-Grandchildren... Stir Over Donghak Revolution Descendants Receiving 100,000 Won Monthly Stipend 132 Years On
- "Soojung Lee Questions Cause of Death for Jang Miran: 'A Young Woman Hanging Herself on a Palm Tree at Night? That's Laughable'"
Through this rights offering, EcoPro HN will raise a total of 200.2 billion KRW. About half of this amount will be invested in expanding new businesses such as semiconductor materials and secondary battery materials.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
