 |
Photo: Financial Supervisory Service (FSS) |
[Alpha Biz= Paul Lee] The Financial Supervisory Service (FSS) has selected Samsung SDI’s paid-in capital increase as the first case for concentrated review, focusing on protecting shareholder value.
According to financial authorities on Monday, the FSS decided to conduct a concentrated review on the securities registration statement for Samsung SDI's paid-in capital increase, which was submitted on the 14th.
This marks the first case related to the FSS's newly implemented concentrated review system for paid-in capital increases, announced last month.
The FSS will assess a paid-in capital increase based on major categories such as "concern about stock value dilution," "concern about harm to common shareholders’ rights," "excessive financial risks," and "neglect of the lead manager's duty of care," along with seven subcategories.
For those cases falling under concentrated review, the FSS will scrutinize the justification for the capital increase, the decision-making process, discussions by the board of directors, shareholder communication plans, and other disclosed information.
To improve the predictability of the review process, the FSS will focus on reviewing these cases within one week of submission and will hold at least one face-to-face consultation.
Previously, Samsung SDI announced a paid-in capital increase of approximately 2 trillion KRW on the 14th, stating that the move was necessary to proactively secure investment resources in anticipation of a resurgence in the battery market.
The paid-in capital increase will be executed through a rights offering, followed by a public offering for any unsubscribed shares, with 11.92 million shares (16.8% of the total shares) being offered. The funds raised from this capital increase will be used for investments in a joint venture with General Motors (GM), expanding production capacity at a Hungarian factory, and investing in solid-state battery production lines.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
