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Photo = POSCO FutureM |
[Alpha Biz= Kim Jisun] On May 26, POSCO Future M submitted an amended capital increase report to the Financial Supervisory Service (FSS), detailing business risks and future investment plans.
This submission came just three days after the FSS requested the amendment on May 23, citing insufficient disclosures regarding the purpose of fund usage and justification for the capital increase.
Through the disclosure, POSCO Future M stated, “In response to the FSS’s request for corrections to the securities registration statement, we reflected additional and revised information in the amended filing to strengthen communication with shareholders and investors.”
The amended report includes expanded explanations of business risks related to economic fluctuations, updates on the U.S. Inflation Reduction Act (IRA), ongoing domestic and overseas investments, and future investment strategies.
Furthermore, it updates various statistics, including market share data for the three major domestic battery customers, with the latest figures from the first quarter of this year.
Additional disclosures cover risks related to large-scale facility investments for production capacity expansion, lawsuits, contingent liabilities, key contractual obligations, and the decision of the major shareholder, POSCO Holdings, to make additional capital contributions.
The report also elaborates on how minority shareholders’ interests were considered in the capital increase decision process, along with a commitment to continue active communication with shareholders to alleviate market concerns.
Earlier, on May 13, POSCO Future M announced a rights offering worth 1.1 trillion KRW aimed at securing future growth engines. The funding will be allocated to facility investments (KRW 181 billion), operating funds (KRW 288 billion), and acquisition of securities in other companies (KRW 630.7 billion).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
