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[Alpha Biz=(Chicago) Reporter Kim Jisun] LS Eco Energy (formerly LS Cable Asia), an affiliate of LS Group, will attract up to 200 billion won in investment.
According to the investment banking (IB) industry on the 13th, LS Eco Energy, a securities market-listed company, recently announced that it plans to attract investment through a third-party paid-in capital increase at an IR for institutional investors.
The amount of investment has been set at up to 200 billion won. It is extensively considering issuing bonds that can be converted into stocks as well as capital increase of ordinary shares and preferred stocks.
LS Eco Energy has started to attract investment costs to raise funds for new businesses such as rare earths. LS Eco Energy is the first Korean company to enter the rare earth business on such a large scale.
LS Cable & System (59.62%) is the largest shareholder of LS Eco Energy. LS Cable & System bought a 5.04% stake in LS Eco Energy in the market until the 29th of last month. It's worth 31.1 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
