Samsung SDI (KRX:006400) has priced its paid-in capital increase at 140,000 won per share for a total issuance of about 1.654 trillion won, according to a Monday release.
The company initially targeted a price of 169,200 won per share, aiming to raise a total of 2 trillion won. This was later reduced to 146,200 won per share, lowering the total to 1.728 trillion won before the final pricing.
The battery and electronics materials maker will issue about 11.82 million shares, which will be listed on June 13.
Samsung SDI will use the proceeds from the issuance to finance its electric vehicle battery joint venture with US car producer General Motors, increase its Hungary plant production, and fund its local solid-state battery facilities.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.