[Featured Stock] Nexten Bio Rises on Highlighted Value of IRA-Related Affiliate Shares

Nexten Bio and its related group stocks are showing strong performance. This is interpreted as the core mineral business of its subsidiary EV Advanced Materials and its grandchild company Dynamic Design being highlighted due to the U.S. Inflation Reduction Act (IRA).

As of 9:19 AM on the 10th, Nexten Bio is trading at 2,100 KRW, up 6.44% from the previous day. At the same time, EV Advanced Materials is up 19.31% at 5,180 KRW, and Dynamic Design is up 14.12% at 7,050 KRW.

Following the announcement of the detailed guidelines of the IRA, the electric vehicle and battery-related industries are expected to benefit, and it is interpreted that the value of Nexten Bio’s affiliated companies related to these industries has influenced the stock prices. EV Advanced Materials is known to be conducting a new lithium-related business, while Dynamic Design is engaged in a nickel mining project in Indonesia.

Nexten Bio is currently the largest shareholder of EV Advanced Materials, holding 10.01% of its shares, and also holds convertible bonds (CB) worth 15 billion KRW. When converted into shares, this amounts to a total of 13,309,276 shares, which, calculated at the current EV Advanced Materials stock price of 4,900 KRW, is approximately 64 billion KRW. Nexten Bio’s market capitalization is about 78 billion KRW, based on a stock price of 2,000 KRW per share.

Additionally, EV Advanced Materials is the largest shareholder of Dynamic Design, holding 7.41% of its shares and convertible bonds worth 10 billion KRW convertible at 3,375 KRW. Nexten Bio stated that it will steadily continue to diversify its business, including the growth of its main business this year and its bio-subsidiary Rosvivo.

This content was produced with the assistance of AI translation services.