Samsung SDI's stock offering allocation for shareholders has sold out.
According to the Financial Supervisory Service's electronic disclosure system (DART) on the 23rd, Samsung SDI reported a subscription rate of 101.96% for its paid-in capital increase targeting employee stock ownership associations and existing shareholders (holders of subscription certificates for new shares).
Samsung SDI is set to issue 11,821,000 new shares through this paid-in capital increase. The actual number of subscribed shares is recorded at 12,052,922.
For the technical odd lots (less than 1 share) of 40,739 shares arising during the subscription process, applications will be accepted through a general public offering on the 27th and 28th. The new shares are scheduled to be listed on the 13th of next month, with an issue price of 140,000 won per share.
Earlier, demand exceeded the allocation of 2,364,200 shares in Samsung SDI's employee stock ownership association subscription, indicating a favorable outlook. The pre-subscription also recorded an application rate exceeding 100%.
The largest shareholder, Samsung Electronics, has also actively supported the effort. Samsung Electronics stated it would subscribe for 120% of the allocated shares, the maximum subscription limit.
A representative from Samsung SDI noted that "expectations regarding the competitiveness of long-term future businesses such as batteries for electric vehicles and energy storage systems (ESS) and the anticipated recovery of future performance contributed to the success of this paid-in capital increase."
Samsung SDI plans to utilize approximately 1.65 trillion won raised this time for investments in ▲ a joint venture with General Motors (GM) in the United States ▲ expanding production capacity at its Hungary plant ▲ investing in solid-state battery line facilities, among other uses.