STX issues new shares worth W80b to expand global business
简介South Korean trading company STX said Friday it had decided to initiate a paid-in capital increase o ...
South Korean trading company STX said Friday it had decided to initiate a paid-in capital increase of 80 billion won ($58 million), in a bid to finance funds for expanding its global secondary battery businesses and Trollygo, the company's new business-to-business trading platform to be launched next month.
According to STX, the firm held a board of directors meeting at the STX headquarters in Jung-gu, central Seoul, to decide new issuance of a total of 7.36 million common shares. The prices for the new shares will be announced on Dec. 6.
"APC Mercury, one of STX’s major shareholders, will be participating in the paid-in capital increase process and buy 10 billion won's worth of newly issued shares," an official from STX said.
The new shares will be listed on Korea Composite Stock Price Index on Jan. 5, after allowing existing shareholders to subscribe for new shares first.
The issuance of new shares comes as STX plans to secure necessary funds for expanding its global secondary battery businesses, such as nickel, lithium and graphite operations, the company said.
In August, STX established its Indonesian headquarters, and the company said it expected to start its sales and transportation of nickel in Indonesia in January.
In addition, the newly acquired funds will be spent to expand potential markets for Trollygo, the company's B2B online transaction platform for industrial goods scheduled to go into operation starting next month. The funds will also be used to expand the number of STX's strategic logistics bases for transporting wood pellets.
“As a company that specializes in secondary battery materials, we will expand and strengthen our supply chains around Southeast Asia, South America, and Africa,” an STX official said.
"We will increase our expertise in trading raw materials, industrial goods, and eco-friendly resources, and take the lead in changing the paradigm of trade transactions through Trollygo," he said.
이준석 전 국민의힘 대표, 이낙연 전 총리. 연합뉴스신당 창당을 준비하는 이준석 전 국민의힘 대표가 6일 문재인 정부에서 국무총리를 지낸 이낙연·김부겸 전 총리에 대해 “싫어할 이 ...
The World Health City Forum, set to take place in Incheon's Songdo Convensia from Monday, is po ...
The case of a woman in her 20s, accused of stalking BTS member V has had her case transferred to the ...
Yoon visits Busan after failed World Expo bid
Resale tickets for League of Legends World Championship go up to 3 million won
Seoul shares open nearly flat despite US gains
Team carries out Korea's first successful uterus transplant
AliExpress vows to invest W10b to root out fake goods in Korea
Global asset firms flock to Jeonju to woo pension giant
- Hyundai Motor chairman marks 3rd year of record earnings
- Samsung, LG, Hyundai closely monitoring potential biz fallout from Israel
- Big firms' debt
- 예술의전당 간 한동훈 화제 되자…野 "집에 스피커 두고 왜 가나"
- Cheongju Craft Biennale stresses connection with nature, Jikji legacy
- [Korean History] 2002, when Korea soared through World Cup
- Disney+’s ‘Moving’ sweeps BIFF’s Asia Contents Awards & Global OTT Awards
- [Our Museums] Explore cinematic treasures at Korean Film Museum
- 33년 경찰 경력 내세워…“안심구청장 누구입니까”
- [Herald Interview] Singer
- Seoul shares open higher on US gains
- 민주당 개표 초반부터 환호성…김태우 캠프엔 적막 가득했다
- S. Korea warns of potential NK surprise attacks using Hamas tactics
- Israleli strikes flatten entire neighborhoods as Gaza faces imminent blackout
- First lady meets with Korean women residing in Japan
- Trend forecaster Kim Ran
- Aespa to return with 4th EP ‘Drama’ next month
- Art Busan's unveils galleries, theme for inaugural fair, Define Seoul
- N. Korea's Kim, Putin exchange congratulatory messages marking 75th anniversary of diplomatic ties
- USS Ronald Reagan aircraft carrier to arrive in Busan this week
- [HIT Forum] Korea's only astronaut highlights humanity's connection with universe
- The ruling party vows extraordinary measures to win back people's trust after crushing by
- More webtoon
- [HIT Forum] More than 400 attendees explore space at HIT forum
- LG CNS launches new AI platform for corporate clients
- Science minister welcomes HIT forum on space economy
- Samsung Electronics tips Q3 operating profit to plunge 78% on semiconductor losses
- Yoon, officials strongly condemn Hamas killings as act of terrorism
- Pentagon chief stresses US ability to tackle 'crises in multiple theaters'
- S. Korea keeping close tabs on reported repatriation of N.K. defectors from China: minister