OCI Holdings and OCI announced on the 30th that they will resume trading with a change of listing and re-listing, respectively, on the KOSPI market.
OCI approved the spin-off plan on March 22 and was split into the surviving holding company 'OCI Holdings' and the newly established company 'OCI' on May 1. Accordingly, OCI shares were suspended from trading on April 27.
The resumed trading will list 16,412,642 common shares of OCI Holdings and 7,436,729 common shares of OCI. The shares of OCI Holdings and OCI are based on the closing price of 119,800 KRW on April 26.
OCI Holdings will be responsible for the solar business, including polysilicon for solar power and energy solutions, as well as urban development projects. OCI Holdings plans to strengthen its position as a global solar company, led by Malaysian OCIMSB’s polysilicon for solar power.
OCI plans to focus on precision chemicals such as carbon black as its cash cow and strategically foster advanced chemical materials businesses including semiconductor and battery materials. OCI announced that it plans to sign a memorandum of understanding (MOU) on June 1 to establish a joint venture (JV) with Tokuyama for semiconductor-grade polysilicon.
Through active investment, OCI aims to proactively respond to the increasing demand driven by the growth of the global semiconductor market, secure market leadership, and leap forward as a semiconductor materials company.
OCI Holdings plans to convert into a holding company by incorporating OCI as a subsidiary through a capital increase by issuing new shares via a tender offer in the future.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
