As of 2:55 p.m., the stock was trading at 114,300 won ($81), up 6.82 percent, after rising as high as 115,400 won earlier in the day.
According to a revised securities registration statement filed with South Korea's Financial Supervisory Service (FSS) on Aug. 7, the company kept the size of the fundraising and planned share issuance unchanged from its original June 30 announcement. It plans to issue 9,900,990 new shares at an estimated 121,200 won each.
The FSS had requested revisions to the registration statement on July 14. The company submitted an amended filing on July 24 and voluntarily revised it again on Aug. 7, this time providing more details on how the proceeds will be used.
Of the roughly 1.2 trillion won to be raised, 915 billion won will be used for investments in other companies, 150 billion won for facilities and 135 billion won for working capital, according to the filing.
The largest allocation within the investment funds, 765 billion won, will go toward Bahodopi Nickel Smelting Indonesia (BNSI), a nickel smelter located in Indonesia Green Industrial Park (IGIP). EcoPro BM plans to begin investing in BNSI from the fourth quarter after raising the money through the rights offering.
The investment is part of EcoPro Group's broader plan to invest a total of $1 billion in the BNSI project. Including outside investors, the overall investment is expected to reach about $1.85 billion.
The project was 39.2 percent complete by the end of July, with initial design and groundwork already finished. The company expects construction to be completed by March 2027, according to the filing.
The new shares will first be offered to existing shareholders, with any remaining shares offered to the public. However, adding nearly 9.9 million new shares could reduce existing shareholders' stakes by increasing the total number of shares outstanding.
The revised registration statement is scheduled to take effect on Aug. 25. Ahead of that, the company plans to hold a second briefing for retail shareholders on Aug. 21 to explain details of the offering.
EcoPro BM, spun off from parent EcoPro in 2016, makes cathode materials used in electric-vehicle batteries.
AJP Takeaways
• EcoPro BM shares rose 6.82 percent to 114,300 won as of 2:55 p.m. on Aug. 10, 2026, after the company detailed its 1.2 trillion won ($850 million) rights offering.
• EcoPro BM plans to allocate 765 billion won of the proceeds to Bahodopi Nickel Smelting Indonesia (BNSI), a nickel smelter in Indonesia Green Industrial Park (IGIP).
• The BNSI project was 39.2 percent complete as of July 31, 2026, and EcoPro BM expects construction to be completed by March 2027.
• EcoPro Group plans to invest a total of $1 billion in BNSI, while the overall project is expected to attract about $1.85 billion including outside investors.
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