EcoPro Materials, Expected Market Capitalization of 2.6~3.3 Trillion KRW... Targeting Mid-November Listing

EcoPro Materials, the largest precursor producer in Korea, submitted a securities registration statement to the Financial Services Commission on the 25th, officially commencing the public offering process for listing on the KOSPI market.

EcoPro Materials plans to offer 14,476,000 new shares for its initial public offering (IPO). The expected offering price ranges from KRW 36,200 to KRW 46,000 per share, with the total offering size estimated between KRW 524 billion and KRW 665.9 billion. From October 30 to November 3, a demand forecast will be conducted targeting institutional investors to finalize the offering price. The company aims to be listed by mid-November. Mirae Asset Securities is the lead underwriter, with NH Investment & Securities serving as a joint underwriter.

Founded in 2017, EcoPro Materials has continuously conducted research and development on precursor technology since 2004. The company succeeded in developing Korea’s first high-nickel NC(A) precursor in 2006, the world’s first NCM811 precursor in 2014, and the NCM9½½ precursor in 2016. It primarily produces top-tier high-nickel precursors.

EcoPro Materials has also developed nickel and cobalt metal refining and production technologies for raw materials, securing strong price competitiveness. It was the first in Korea to introduce the RMP (sulfation process), which maximizes raw material utilization by extracting high-purity nickel and cobalt from low-purity raw materials. Through a recycling process that reintroduces by-products and defective products generated during precursor production back into the RM process, the company achieved a yield rate exceeding 99%. This high cost competitiveness, compared to competitors who must purchase and process expensive high-purity raw materials, has enabled EcoPro Materials to secure global competitiveness.

EcoPro Materials drives strong growth by establishing an independent value chain from raw material procurement to precursor production and delivery to end customers. Although the precursor market has been dominated by Chinese companies, EcoPro Materials expects to benefit from regulatory environment changes such as the U.S. Inflation Reduction Act (IRA) and the European Critical Raw Materials Act (CRMA).

EcoPro Materials plans to use the funds raised for research and development and facility investments to foster future growth. To enter the North American and European markets, which have stringent environmental regulations, the company aims to lead the secondary battery materials market based on advanced recycling and eco-friendly production technologies.

Kim Byung-hoon, CEO of EcoPro Materials, explained, "EcoPro Materials has focused on precursor research and development and expanding production capacity, which are core to secondary battery materials, to grow its business sustainably." He added, "Through the IPO, EcoPro Materials will strengthen its identity as a specialized secondary battery materials company and lead the global precursor market through foundational investments."

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