Samsung SDI Raises 2 Trillion Won via Share Offering for Battery Plant Expansion and Solid-State Battery Production

[Samsung SDI Raises 2 Trillion Won Through Share Offering for Hungarian Battery Plant and Korean Solid-State Battery Production Line]

On March 14, Samsung SDI announced that it would raise approximately 2 trillion won (about $1.37 billion) through a share offering to enhance the company's future competitiveness and medium and long-term growth. The company will issue 11.821 million common shares at a price of 169,200 won per share. The funds raised through this share offering will primarily be used to invest in its joint venture with General Motors in the US, expand the capacity of its Hungarian battery plant, and establish a solid-state battery production line in Korea.

Based on this continuously growing market outlook, Samsung SDI is expected to increase investments to both expand the capacity of its Hungarian plant and accelerate the development and mass production of new technologies, including solid-state batteries and LFP batteries, building on its existing plans.