Eco-friendly fuel company SL Energy announced that it will execute a paid-in capital increase worth 11.5 billion KRW targeting its second-largest shareholder, Lucid Holdings. The funds raised through this capital increase are planned to be used for facility investment and operating expenses, with the payment date set for November 29.
Through this capital increase, Lucid Holdings will secure approximately 50.2% of the shares, and including 8.6% held by related parties, it will hold close to 60% of the total shares. This is expected to enable Lucid Holdings to establish a stable governance structure.
An SL Energy official stated, “On a consolidated basis for the first half of this year, sales improved to 36.03 billion KRW and operating profit to 810 million KRW, compared to last year’s 16.13 billion KRW in sales and operating loss of 5.35 billion KRW, and a turnaround is expected this year.” He added, “Through this capital increase, we will strengthen the company’s financial structure and lay the foundation for long-term growth.”
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