The employee stock purchase plan conducted for Samsung SDI employees has sold out.
According to the industry on the 21st, the subscription rate for Samsung SDI's employee stock purchase plan exceeded 100%.
Of the 11,821,000 shares that Samsung SDI plans to issue through a paid-in capital increase, 20%, or 2,364,200 shares, have been allocated to the employee stock ownership association. However, more subscription requests have been received than this amount.
The sellout of the employee stock purchase plan is a result of the perception that shares can be purchased at a discounted price compared to the currently undervalued stock price. Additionally, it reflects expectations for future performance improvement and confidence in the competitiveness of its businesses, such as batteries for electric vehicles and energy storage systems (ESS).
Samsung SDI's capital increase will be conducted through a method that allocates shares to existing shareholders and then offers any unclaimed shares to the general public. Following a two-day subscription for existing shareholders starting on the 21st, if any shares are unclaimed, they will be offered to the general public on the 27th and 28th, with new shares set to be listed on the 13th of next month.
Previously, Samsung Electronics, which is the largest shareholder of Samsung SDI with a 19.58% equity stake, announced on the 30th of last month that it plans to subscribe for 120% of the allocated shares, which is the maximum subscription limit. Samsung Electronics intends to invest up to 319.8 billion won depending on the allocation results of the oversubscription.
Samsung SDI plans to utilize the funds raised through the capital increase for investments in a joint venture with General Motors in the United States, expanding production capacity at its factory in Hungary, and investing in solid-state battery line facilities.