[Asia Economy Reporter Jang Hyowon] A&N P, a KOSPI-listed company, is expanding its business scope and securing new growth engines through a capital raise of approximately 15.6 billion KRW.
On the 23rd, A&N P announced that it has decided on a third-party allotment paid-in capital increase worth about 15.6 billion KRW targeting Yongsan. Yongsan is a special related party of A&N P’s largest shareholder, YSP. The newly issued shares are 10,758,621 common shares, with an issue price of 1,450 KRW per share. The scheduled listing date is December 15, and all shares will be under lock-up for one year.
The funds secured through this capital increase will be used for business diversification, discovering growth engines, and strengthening competitiveness. In May, A&N P decided to acquire the sales division of the seat business from its largest shareholder YSP. Additionally, earlier this month, it moved to acquire management rights of R&Tech, a battery protection device manufacturer, to enter the secondary battery business.
Upon completion of payment, Yongsan will secure a 26.5% stake in A&N P, becoming the second-largest shareholder. Yongsan’s participation in this capital increase further strengthens the control of YSP and its affiliates over A&N P.
An A&N P official stated, “Based on the active support intentions of the largest shareholder and related parties, we have succeeded in raising investment funds,” and added, “The secured funds will be used to diversify business and strengthen competitiveness in new businesses.”
Meanwhile, A&N P has been expanding investments in the secondary battery-related field this year. In July, A&N P acquired a 40% stake in Neo Battery Materials (NBMK), a company specializing in silicon anode nano-coating.
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