OCI Holdings Completes Tender Offer Rights Issue Subscription... Holding Company Conversion Finalized

OCI Holdings has completed a rights offering subscription through a public offering method targeting shareholders of OCI Co., Ltd. (OCI).

OCI Holdings conducted a subscription process from the 31st of last month to the 20th of this month, receiving applications from OCI shareholders for in-kind contributions of OCI shares via a tender offer method, and then allocating new shares issued through the rights offering. As a result, it purchased 2,378,904 shares, equivalent to 31.99% of OCI Co., Ltd.'s issued shares (total amount approximately KRW 230.7 billion).

In addition to the 31.99% of OCI issued shares secured through this tender offer, OCI Holdings also holds 93,546 shares (1.26%) retained from the previous spin-off, bringing the total to 2,472,450 shares and securing a 33.25% stake, thereby meeting the requirements for establishing a holding company.

The company believes this reflects the high expectations of domestic and international investors regarding the current and future value of OCI Holdings, and plans to proceed with the holding company conversion as scheduled within the year through procedures such as the holding company conversion report.

This rights offering was conducted to incorporate OCI, which was spun off in May, as a subsidiary and to meet the requirements for establishing a holding company. Under the Fair Trade Act, holding companies are required to hold at least 30% of shares for listed companies and 50% or more for unlisted companies.

Lee Woo-hyun, Chairman of OCI Holdings, stated, "OCI Holdings will focus on its role as a pure holding company, serving as a control tower based on solid fundamentals and future growth potential, by managing each subsidiary’s business portfolio, investment and risk management, operational efficiency, and providing direction for new businesses." He added, "As announced during the spin-off process, we will continue efforts to enhance shareholder value through various shareholder return policies after the holding company conversion."

Meanwhile, OCI Holdings plans to complete the transition to a holding company system within the year through the holding company conversion report and other procedures, focusing on strengthening the business competitiveness of each subsidiary and actively discovering new growth businesses. In the energy solutions sector, it will maximize business capabilities across the solar value chain centered on OCIMSB’s polysilicon for solar power, and in the chemical sector, it will continue active investments to expand into advanced materials fields such as semiconductors and secondary batteries, led by the newly established company OCI.

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