ANP Acquires RNT Technology... Diversifying Secondary Battery Business

[Asia Economy Reporter Jang Hyowon] ANP is acquiring ceramic specialist company RNT Technology.

RNT Technology announced on the 19th that it has signed a stock transfer agreement to transfer 1.62 million shares (21.17% stake) held by the existing largest shareholder CEO Lee Hyojong and one other person to ANP and three others. ANP will acquire 440,000 shares, becoming the largest shareholder with a 5.71% stake.

On the same day, RNT Technology decided on a third-party allotment paid-in capital increase worth 10 billion KRW targeting ANP and Al Partners Korea. Al Partners Korea is a strategic related party of ANP. ANP and its related party Al Partners Korea will participate with 10 billion KRW, with the payment scheduled for December 23. Upon completion of the payment, the combined stake of ANP and Al Partners Korea in RNT Technology is expected to reach 23.42%.

ANP is a company specializing in printed circuit board (PCB) manufacturing and surface mounting. This year, it has restructured its business by physically splitting off the PCB manufacturing division and acquiring the automotive interior business division from YSP in July. Additionally, it entered the secondary battery materials business by acquiring a 40% stake in Neo Battery Materials Korea, which operates in silicon anode materials.

RNT Technology is a specialist in Low Temperature Co-fired Ceramic (LTCC). It has developed and supplies REP (Resistor Embedded Protector), a secondary battery protection component using LTCC materials. Its subsidiary RNT Ceramics acquired SMTPC, which possesses technology and production capabilities for power semiconductor heat dissipation substrates for mobility applications.

Meanwhile, RNT Technology has decided to issue convertible bonds worth 20 billion KRW to the M-Light No.1 Investment Association. Through the third-party allotment capital increase and convertible bond issuance, it will secure a total of 30 billion KRW in funds.

An ANP official stated, “RNT Technology’s secondary battery protection components have proven their technology with global secondary battery companies such as LG Energy Solution and China’s BYD as customers,” and added, “The funds secured by RNT Technology will be used to promote secondary battery-related businesses and new ventures.”