[Asia Economy Reporter Jang Hyowon] YSP, the largest shareholder of ANP, has shown its intention to take responsible management by increasing its stake.
YSP announced on the 20th that it purchased 600,000 shares of ANP on the market, bringing its total holdings to 11.19 million shares (38.54% stake).
Since becoming the largest shareholder by participating in a 10 billion KRW paid-in capital increase in April, YSP has been continuously expanding its stake. Following the acquisition of ANP shares worth 5 billion KRW in August, it further increased its holdings through this market purchase.
YSP is supporting ANP's structural improvement by, among other things, transferring its automobile seat business division to ANP in May. The seat business division acquired by ANP recorded sales of 40 billion KRW and an operating profit of 1.8 billion KRW in the first half of this year alone.
The performance of the seat business division in the second half is expected to be reflected in ANP, significantly contributing to the improvement of ANP's earnings. In particular, with the overall increase in production volume in the automobile industry and the rising proportion of luxury vehicles, continuous growth potential is expected in the future.
A YSP official stated, “ANP is transforming from a printed circuit board (PCB) manufacturing specialist company into an automobile parts company,” and added, “As the business structure is being reorganized, we will further strengthen our control over ANP and practice responsible management as the largest shareholder.”
Meanwhile, ANP announced on the 18th that it will acquire RN2 Technology. It plans to secure management rights at the extraordinary general meeting scheduled for December and aims to strengthen its secondary battery-related business in the future.
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