[Featured Stock] Pino Rises on News of Acquiring Stake in C&P Shinsosae and Advancing Precursor Production

Pino is showing strength. The news that it acquired shares in the POSCO Future M joint venture C&P Shinsosae Technology (C&P Shinsosae) and is promoting precursor production is interpreted as having influenced the stock price.

As of 2:11 PM on the 18th, Pino was trading at 6,330 won, up 770 won (13.85%) from the previous trading day.

On the 16th of this month, Pino announced that it would acquire a 29% stake in C&P Shinsosae for 13 billion won. C&P Shinsosae is a joint venture established by the global precursor leader CNGR and secondary battery material company POSCO Future M, holding 80% and 20% stakes respectively. Currently, it is constructing a nickel-cobalt-manganese (NCM) precursor production plant with an annual capacity of 110,000 tons in the Yeongilman 4 Industrial Complex, Pohang, Gyeongsangbuk-do.

A company official stated, "With the acquisition of shares in C&P Shinsosae, we are making a full-scale entry into the production sector following the distribution and sales of precursors and secondary battery materials. We are also considering expanding our stake through additional investments in line with the progress of the Yeongilman production plant construction of C&P Shinsosae."