EV Advanced Materials, Subsidiary Dynamic Design's Stake Rises to 23.4%

EV Advanced Materials announced on the 13th that it will convert the entire 10 billion KRW of convertible bonds (CB) held by its subsidiary Dynamic Design into shares. As a result, EV Advanced Materials' stake in Dynamic Design will increase from 7.4% to 23.4%.

The CB being converted this time is the 7th series bearer, interest-bearing, unsecured private convertible bonds with a total amount of 10 billion KRW. The conversion price is 3,375 KRW per share, and the expected listing date is April 26.

EV Advanced Materials was the largest shareholder of Dynamic Design, holding 1,033,333 shares (7.4%). Through this stock conversion, it has secured a total of 3,996,295 shares (23.4%).

Dynamic Design is a tire mold and manufacturing equipment specialist company located in Gwangju Metropolitan City. Based on its high technological capabilities, it is expanding its market share by leveraging a global network and producing high value-added products. Additionally, through close cooperation with partners in Indonesia, it is steadily progressing new nickel-related businesses, securing mid- to long-term new growth engines.

Dynamic Design expects that the increase in the largest shareholder's stake will stabilize management and alleviate financial burdens. Of the 40 billion KRW convertible bonds issued in 2021, 30 billion KRW has already been converted into shares. With this CB conversion by EV Advanced Materials, no remaining bonds will exist, and it is anticipated that there will be no future shareholder value dilution issues.

An EV Advanced Materials official stated, “The company is currently striving to expand sales and improve profitability based on new orders for electric vehicle FPCB and transparent LED FILM,” adding, “We will also continue to grow by expanding investments in secondary battery-related businesses and new lithium-related ventures.”

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