EcoPro BM (247540.KQ) sets KRW 1.2T rights offer for BNSI nickel stake

EcoPro BM (247540.KQ) disclosed a KRW 1.1999999988T rights offering on June 30, according to a Maeil Business article generated from DART filing data. The company plans to issue 9,900,990 new common shares at KRW 121,200 each through a shareholder allotment followed by a public offering for unsubscribed shares.

The use of proceeds makes the filing market-moving rather than routine. The DART-based report listed KRW 150B for facilities, KRW 134.9999988B for operations, and KRW 915B for acquisition of securities in another company. Korea Economic Daily separately reported that EcoPro Group will take a major shareholder position in the BNSI smelter project inside Indonesia’s IGIP industrial complex, with EcoPro BM’s capital raise funding that investment.

The project scale is material for the battery supply chain. Korea Economic Daily cited total investment cost of about KRW 1.5T for BNSI and a planned nickel-smelting capacity equivalent to supply for 2M electric vehicles. EcoPro and EcoPro BM plan to lift their combined stake to 39%, making them major shareholders of the project.

Nickel offtake is the strategic number. EcoPro previously secured 29,000 tons of nickel through first-stage Indonesia investment, and the second-stage BNSI investment is expected to lift secured nickel rights to 65,000 tons based on ownership share. The group framed the investment as part of a Non-PFE battery supply chain covering nickel, precursor, and cathode materials.

The next checkpoints are effectiveness of the securities registration statement, final issue price, existing-shareholder subscription, and the timetable for the BNSI stake purchase. The transaction funds growth capex, but it is also a dilution event; investors should verify share count, pricing, and use-of-proceeds changes in the original DART filing and any amended filings.

Not investment advice. Verify all figures with primary sources before acting.