The largest shareholder of KOSDAQ-listed U.I.D(069330)(UID) said on the 30th that the equity stake was raised to more than 40% through on-market purchases.
Park Jong-su, the chair and the largest shareholder of U.I.D, increased the holding ratio, including the equity of related parties, from 37.09% (6,287,459 shares) to 40.33% (6,836,332 shares). This equity expansion was achieved as affiliates Nautech and Jeonggwang continued to buy U.I.D shares on the market from mid-July. Nautech and Jeonggwang made net purchases of 540,373 shares and 8,500 shares, respectively. The funds for the equity purchases were raised entirely with own funds without any borrowing fund.
The company said the largest shareholder's equity increase reflects a commitment to responsible management and expectations for future corporate value growth. U.I.D recently acquired 51% equity in T.S. Tech, a high-performance polypropylene (PP) materials company for automotive interior components, and has begun joint development of an "AI data center ESS integrated platform" with Global Topnet and the Ministry of Science and ICT (MSIT)'s R&D on new materials, pushing ahead with a fundamental overhaul.
A U.I.D official said, "The continued on-market purchases by the largest shareholder and specially related parties reflect confidence in the company's future growth potential," and added, "Based on stable management control, we will make early, visible progress in strengthening our core business fundamentals and in new businesses in automotive electronics materials and ESS, to enhance shareholder value."