E&Corporation, Majority Shareholder Expands Management Stake... "Strengthening Responsible Management System"

[Asia Economy Reporter Hyungsoo Park] En Corporation announced on the 10th that the shareholding ratio of its largest shareholder, JSI Company, and related parties increased from the previous 30.12% (11,619,340 shares) to 35.35% (15,901,589 shares).

A company official explained, "The exercise of conversion rights on convertible bonds and subscription rights by related parties signifies En Corporation's confidence in future growth following its success in establishing an industrial water treatment platform," adding, "It is interpreted as a move to strengthen a responsible management system."

He added, "The overhang issue has been resolved, and financial soundness has been secured."

En Corporation began last year by acquiring Hanseong Cleantec, which operates in the industrial water treatment EPC business, followed by the acquisition of Inbiotech, a liquid designated waste treatment company, and the Dangjin plant of En Chemical. By successfully acquiring Daeyang Enbio, a specialized water treatment O&M company, it succeeded in building an industrial water treatment platform.

En Corporation recorded a cumulative consolidated sales of 96.88 billion KRW up to the third quarter of last year, marking an 818% growth compared to the same period the previous year. Ahead of the earnings announcement next month, the company expects to achieve the highest sales in its history since its establishment.

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