Unid announced on the 21st that it will issue exchangeable bonds worth 15.4 billion KRW and dispose of treasury shares to secure funds for new business investments and operating capital.
The exchangeable bonds target 128,671 treasury shares held by Unid, which corresponds to 1.9% of the total number of shares. The coupon rate is 0% for both the nominal and maturity interest rates, with a maturity of 5 years. The exchange price was set at 119,847 KRW per share, issued at a 15% premium over the reference stock price. No repricing clause due to market price decline was included.
Unid plans to use the raised funds for investments in new businesses, research and development, and operating capital such as raw material purchases. This strategy aims to respond to the expanding demand for potassium hydroxide as the water electrolysis (AWE), carbon capture and storage (CCS), and direct air capture (DAC) industries grow. Unid intends to expand its market share of potassium products and accelerate investments in new businesses, preparing for increased demand in the global market.
As part of its ESG management, Unid is focusing its new growth engines on eco-friendly industries. In recent years, it has made investments in secondary batteries (including Solibys), carbon capture (Aerovation Technology), and hydrogen businesses (including Gardneck).
An Unid representative stated, "This exchangeable bond issuance is intended to establish a foundation for expanding new business areas through stable capital procurement. We expect it to strengthen our competitiveness in the global market through new businesses, reduce financial costs, and have a positive impact on future stock prices due to the high exchange price premium."
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