Nexten Bioscience Strengthens Management Control of Subsidiary EV Advanced Materials
[Asia Economy Reporter Jang Hyowon] Nexten Bioscience announced on the 26th that its subsidiary EV Advanced Materials' convertible bonds have been converted and additionally listed, thereby strengthening the subsidiary's management rights.
The total amount of convertible bonds to be additionally listed is 3,326,532 shares, of which 2,315,394 shares are known to be Nexten Bioscience's stock. The company's conversion claim amount is 3.7 billion KRW, and the conversion price is 1,598 KRW per share.
The scheduled listing date for the converted shares is the 28th, and the total number of listed shares of EV Advanced Materials will be 64,134,882 shares.
The company’s existing holdings of 4,102,564 shares plus 2,315,394 shares will total 6,417,958 shares, securing a total stake of 10%.
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A Nexten Bioscience official stated, “This convertible bond conversion was decided reflecting the growth potential of our subsidiary EV Advanced Materials and the growth prospects of the lithium battery business,” and added, “Through strengthening management rights, we will cooperate to ensure that the subsidiary can smoothly operate stable and new businesses.”
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