Woori Investment & Securities said on the 11th that it had solely managed a 120 billion won financing for Green Eco Nickel, Ecopro's Indonesian local subsidiary.
By independently handling the large-scale corporate finance deal, Woori Investment & Securities is seen as having proven its capabilities as a core executor of venture capital investment under Woori Financial Group's "Future Shared Growth Project." Earlier, the company bolstered its capital base last month through a 1 trillion won capital increase to actively continue its productive finance efforts.
Based on the funds raised, Ecopro plans to diversify its nickel supply chain, which had been heavily dependent on China, and expand the equipment infrastructure of its local smelting facilities in Indonesia. Through this, the company aims to strengthen its dominance in the global cathode materials market and contribute to the stable growth of the domestic secondary battery ecosystem.
An official at Woori Investment & Securities said, "This financing was arranged to help a domestic company secure a stable supply chain in the global market and strengthen its industrial competitiveness," adding, "We will continue to concentrate our investment banking (IB) capabilities to ensure smooth funding for future growth industries such as secondary batteries and renewable energy."
