Ecopro BM has set the first-tranche rights offering price at ₩89,500 per share. This is 26.1% below the ₩121,200 estimated price announced in June. Rights offerings let existing shareholders buy new shares at below-market prices.
Final pricing is scheduled for October 12 with payment October 23. Ecopro BM is raising ₩1.2 trillion through the offering. The discount reflects market conditions during the capital raise period when prices moved lower.
Ecopro BM manufactures cathode materials for lithium-ion batteries. The company supplies global battery makers as a subsidiary of battery material company Ecopro.
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| Symbol | Last Price |
|---|---|
| 247540Ecopro BM Co., Ltd. | ₩106,000 -0.5% |