APC Mercury Increases Participation in STX Capital Increase... "No Exit Plan"

APC Mercury, the largest shareholder of STX, announced on the 8th that it will subscribe to 12.4 billion KRW in STX's paid-in capital increase. This amount exceeds the initially planned 10 billion KRW. APC Mercury stated that this is part of responsible management as the largest shareholder.

An APC Mercury official explained the reason for increasing the subscription scale, saying, "We have a positive outlook on STX's future" and "We increased the subscription scale based on the judgment that the issue price was undervalued compared to the corporate value."

Additionally, APC Mercury announced plans to expand STX's secondary battery core raw materials business. Recently, as the growth rate of electric vehicle sales has slowed, doubts about electric vehicle-related stocks and investments have emerged in the market. However, APC Mercury expects that the secondary battery core minerals and upstream industries will maintain their status as national core industries for a sustainable future.

They also explained that the future value of STX's core minerals business and the platform value of the digital supply chain TrollyGo have not been reflected in the current stock price, and firmly stated that there are no plans to recover investments in the future.

On the 6th, STX finalized the issue price of new shares for the paid-in capital increase at 11,310 KRW. The number of new shares issued is 7.36 million, and the amount to be raised through the capital increase is approximately 83.2 billion KRW. STX will conduct subscription for existing shareholders from the 8th to the 11th, followed by a general public subscription on the 13th and 14th. The listing date for the new shares is January 5 of next year.