Hansong Neotec announced on the 25th through a public disclosure that the payment for the third-party allotment capital increase worth 7.3 billion KRW, resolved for the largest shareholder Alpha Holdings, has been completed. The number of shares to be issued is 6,642,410, with an issue price of 1,099 KRW per share. All the listed shares will be subject to a one-year lock-up period.
Alpha Holdings participated 100% in this capital increase, securing a 27% stake in Hansong Neotec (including related parties), thereby strengthening responsible management and partnership with Hansong Neotec. Additionally, with this payment, Hansong Neotec was able to complete early the contract for acquiring 84,462 common shares of Sinhwa IT, signed on August 10.
As a result, Hansong Neotec secured 100% ownership (including related parties) of its secondary battery materials subsidiary Sinhwa IT, enhancing the prospects for resuming trading and improving its financial structure.
Founded in 1998, Sinhwa IT produces high-quality "lead tabs," one of the essential materials for secondary batteries, and supplies products to numerous global secondary battery companies both domestically and internationally, including SES, Enovix, and Enertech International. In October last year, it expanded its production line, increasing production capacity more than fivefold.
A Hansong Neotec official stated, “This capital increase will further solidify the partnership with the largest shareholder and serve as a foundation to expand investment in the secondary battery materials business and strengthen core operations. With the global secondary battery market expanding significantly, we expect the company’s sales growth to accelerate in the future.”
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