[Edaily Reporter Kim Hyung-il ] HanJungNCS.Co.,Ltd(107640), a manufacturer of energy storage systems (ESS) and electric vehicle (EV) components, is investing approximately 15.8 billion won in its U.S. subsidiary to build a new facility there.

In a regulatory filing on the 16th, HanJungNCS.Co.,Ltd announced that its board of directors had decided to participate in a capital increase by its wholly-owned subsidiary, HANJUNG AMERICA CO. (Indiana). Hanjung America will issue 11,700 common shares through a rights offering, raising a total of $11.7 million.

This amounts to approximately 15.834 billion won. The participation amount in the capital increase was calculated using the initial trading reference rate of 1,353.3 won per dollar, as announced by the Seoul Foreign Exchange Brokerage on the 16th.

Most of the raised funds will be invested in new facilities. The company plans to use $9.5 million (approximately 12.86 billion won) for facility investments, while the remaining $2.2 million (approximately 2.98 billion won) will be used as working capital.

Hanjung America’s main businesses include the manufacture and sale of ESS components, EV components, chillers, heating, ventilation, and air conditioning (HVAC) systems, and related parts. As of the end of last year, its total assets amounted to 37,113.47 million won, accounting for 14.65% of HanJungNCS.Co.,Ltd.’s consolidated assets.

The issue price for the new shares is $1,000 per share, and the payment date is scheduled for September 29. The number of shares outstanding prior to the capital increase was 25,700; with the addition of 11,700 shares this time, the total number of shares outstanding will increase to 37,400.