Ecopro Group is in talks with financial investors (FIs) to push back the listing of its subsidiary Ecopro Innovation until after the year following next. The plan is to attempt a listing after boosting its corporations value.
On the 26th, Ecopro Group said it is negotiating a waiver of listing obligations with FIs to adjust Ecopro Innovation's listing schedule, which had been planned for the first half of next year.
In 2023, Ecopro Innovation raised 400 billion won from a consortium formed by private equity fund (PEF) managers and was valued at 3 trillion won. Premier Partners, IMM Investment, Eum Private Equity (PE), and NH PE-Woori PE Asset Management participated.
As earnings deteriorated amid a downturn in the battery industry, its corporations value is estimated to have fallen to below 3 trillion won recently. Ecopro Innovation posted sales of 127 billion won and an operating loss of 154.5 billion won last year.
Ecopro Group's policy is to avoid a forced listing and to list again after improving corporations value. The waiver process is also expected to proceed smoothly. A company official said, "If we list at a low valuation, existing shareholder value could be damaged."