PCB maker Isupetasys cancels M&A with carbon nanotube producer

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The Financial Supervisory Service also put the brakes on the rights issue plan, calling on Isupetasys to revise the securities report on the new share sale.Isupetasys paid 15.8 billion won to Jeio in a contract deposit.

South Korean printed circuit board (PCB) maker Isupetasys Co.has withdrawn a 300-billion-won ($210 million) deal to buy Jeio Co., one of the country’s three carbon nanotube (CNT) producers, in the face of shareholders’ protest.

To finance the deal, Isupetasys had planned to raise 550 billion won via a rights offering, of which about 300 billion won would have been used for the Jeio acquisition.

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Article Details

Category: Economy

Markets: South Korea

Topics: Shares Deal Jeio Isupetasys Obligations Rights Share Billion Offering Korean Purchase

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-29 @ 09:33:01 (1 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 376 words

Reading Time: 3 minutes read

Sentences: 24 lines

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Copyright Owner: © Korea Economic Daily

News ID: 25593935

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