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Photo = Samsung SDI |
[Alpha Biz= Paul Lee] Samsung SDI, which had planned a large-scale rights offering worth nearly KRW 270 billion, has successfully passed the Financial Supervisory Service's (FSS) key review.
However, due to a sharp drop in its stock price following the shock of U.S. President Donald Trump's announcement of mutual tariffs, the company was forced to reduce its fundraising target by KRW 270 billion.
According to the FSS electronic disclosure system on Wednesday, the effective date of the securities registration statement for the rights offering, submitted by Samsung SDI on March 14, became effective on April 8.
As a result, the company is now set to proceed with the allocation of new shares on April 11, followed by subscription for employee stock options and existing shareholders from May 21–22, and a listing of the new shares on June 13.
Samsung SDI was the first company to undergo the FSS's key review for a rights offering, but it passed the review within a month without any requests for corrections from the authorities, requiring only two voluntary amendments. This was in contrast to Hanwha Aerospace, which faced requests for supplementary documentation from the authorities and even changed the structure of its offering due to objections from minority shareholders.
The issue arose, however, when the stock market became volatile after the announcement of the rights offering, leading to a reduction in the offering size. Samsung SDI explained that the first offering price was set at KRW 146,200, lower than the anticipated price of KRW 169,200.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
