EV Advanced Materials (CEO Choi Dong-rak) announced on the 4th that it will proceed with a paid-in capital increase of 41.4 billion KRW to strengthen the company’s future competitiveness through facility investment fund expansion.
The purpose of the funds is to expand facility investment capital, acquire securities of other corporations, and cover operating expenses. The paid-in capital increase will involve 41.5 million shares, allocated to existing shareholders followed by a general public offering of any unsubscribed shares. The process will be conducted through SK Securities with a full underwriting method.
The record date for the new shares allocation is set for the 23rd, and the final issue price will be determined on May 30. Subsequently, subscription by existing shareholders and the general public offering will be completed between June 9 and 13.
The funds raised through this capital increase will be partially used to stabilize the financial structure, expand the factory and production capacity in Binh Phuoc, Vietnam, and improve the financial structure and business stabilization of SCE Engineering, a KOSPI-listed company where EV Advanced Materials is the largest shareholder. Some funds will also be used for facility investments.
EV Advanced Materials showed interest in the secondary battery business by investing in Taiwan’s ProLogium for the first time domestically in July 2021.
Taiwan solid-state battery maker ProLogium owns a 40 MWh scale solid-state battery pilot plant and has signed a business agreement with Schneider Electric to optimize battery production, currently expanding its solid-state battery factory in France.
Market research firms forecast that the electric vehicle battery market will continue to grow at an average annual rate of about 20% from 2025 to 2030.
ProLogium recently gave a joint industry lecture in Germany on March 13 titled “Worry-Free Driving Range: Innovative Battery Technology from Battery to Electric Vehicle,” presenting more effective solutions for future electric vehicle development.
They also announced enhanced safety through an inorganic solid electrolyte and ceramic-coated wet separator with an energy density of 380 Wh/kg and a charging time of 6 minutes to 80% capacity.
EV Advanced Materials stated, “The flexible circuit board for electric vehicle batteries has partially recovered, and ActVision, a transparent display business, is expanding its scale through OEM supply to large corporations.”
They added, “We are the only company in Korea with a mass production system for ultra-high-resolution large-area transparent LED film. Our third-generation glass window-attached LED digital signage product boasts the industry’s highest transparency, and with the only mass production system for ultra-high-resolution large-area transparent LED film in Korea, we plan to expand the display business by supplying high-resolution LED displays to major bus stops in Jung-gu, Seoul, and will additionally focus on targeting the Japanese and Middle Eastern markets.”
A company official said regarding this capital increase, “We decided on the paid-in capital increase to accelerate mid- to long-term growth based on a stable financial structure,” adding, “We will overcome the chasm through strengthening technological competitiveness, expanding sales and orders, and cost innovation, and steadily prepare for the upcoming super cycle.”
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