CEO Um Gi-cheon and all executives of POSCO FUTURE M purchased 5,153 shares of the company on the market. POSCO FUTURE M explained that this demonstrates their commitment to enhancing shareholder value through responsible management, along with confidence in the company's business growth vision, amidst the resolution of a capital increase worth 1.1 trillion won.
POSCO FUTURE M disclosed the share ownership status of its executives on the 28th. President Um Gi-cheon bought 700 shares, Hong Young-jun, head of the technology research institute, purchased 460 shares, Jung Dae-hyung, head of the management planning department, acquired 500 shares, and Yoon Tae-il, head of the energy materials division, also bought 500 shares. In total, 16 executives participated in the stock purchase during the capital increase period.
This disclosure was made for the executives who purchased shares between the 21st and 23rd. Executives who bought shares after the 23rd are expected to be disclosed next week. The executives plan to actively participate as shareholders in the new issuance for the capital increase.
POSCO FUTURE M resolved to increase its capital by 1.1 trillion won on the 13th. The major shareholder, POSCO Holdings, decided to underwrite 100% of the new shares corresponding to its equity (59.7%) for an investment of 525.6 billion won.
With the funds raised from this capital increase, POSCO FUTURE M plans to finalize investments in key production bases, including a joint venture plant for cathode materials in Canada, expansions of cathode materials plants in Pohang and Gwangyang, and the establishment of a spherical graphite plant for anode materials, thereby enhancing business competitiveness.
In particular, POSCO FUTURE M noted that upon completion of the recently decided spherical graphite plant for anode materials, it could achieve independence in the anode supply chain, allowing it to secure a distinctive premium in the global anode market. Additionally, the U.S. Department of Commerce (DOC) recently made a preliminary decision to impose countervailing duties of over 700% on Chinese anode materials, raising expectations for a significant increase in market demand for POSCO FUTURE M's anode materials.
President Um Gi-cheon said, “Through this capital increase, we plan to finalize investments in preparation for full-scale growth after market demand recovers and secure future competitiveness through financial structure improvement,” adding, “We will maximize shareholder value by securing an independent supply chain.”