Private equity fund (PEF) IMM Investment is reportedly pursuing an investment in ECOPRO Materials in collaboration with JKL Partners.
According to investment banking (IB) industry sources on the 27th, IMM Investment and JKL Partners are considering an investment of up to 200 billion won in ECOPRO Materials. It is understood that the details are still in the early stages of negotiation.
Ecopro's subsidiary ECOPRO Materials is currently raising 300 billion won in funds. It is expected that the method will include the issuance of redeemable convertible preferred shares (RCPS). ECOPRO Materials, which went public in the securities market in November 2023, is producing precursors for cathode materials, a key component of secondary batteries.
Previously, IMM Investment carried out an equity investment prior to the listing of ECOPRO Materials. In 2022, it evaluated the corporate value of ECOPRO Materials at about 1.6 trillion won and acquired 3% equity for 50 billion won.