KOSDAQ-listed Fino jumped more than 21% in early trading on the 30th. The stock is rising for a third straight session on news that Samsung SDI will participate in Fino's third-party paid-in capital increase to secure equity.
As of 9:36 a.m. that day, Fino was trading on the KOSDAQ market at 8,840 won, up 21.93% (1,590 won) from the previous day.
According to the Financial Supervisory Service's electronic disclosure system on the 26th, Fino decided on a paid-in capital increase issuing 14,294,467 new shares.
Of these, Samsung SDI is slated to be allocated 6,126,200 shares to secure equity. The issue price is 4,897 won per share, for a total investment of about 30 billion won.
The equity acquisition is seen as a strategy to secure a battery materials supply chain in connection with a push into the North American energy storage system (ESS) market.
Fino is a Chinese-affiliated Korean company with CNGR as its parent, China's largest precursor specialist, and it is specialized in lithium iron phosphate (LFP). It is a company that has secured production lines for nickel-cobalt-manganese (NCM) and lithium iron phosphate (LFP) at the same time.