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[Alpha Biz=(Chicago) Reporter Kim Jisun] OCI Holdings is speeding up its transition to a holding company by deciding to make in-kind investments in subsidiaries with high business ties with OCI such as OCI China and P&O Chemical.
OCI Holdings made an announcement at its regular board meeting on the 26th that it has decided to sign a contract for participation in paid-in capital increase and investment in kind by investing in OCI. Earlier last month, OCI Holdings secured a 33.25% stake in OCI and met the requirements for conversion to a holding company as public purchase and in-kind investment were completed.
OCI Holdings plans to transfer shares or shares of corporations related to OCI's business division to OCI to maximize synergy in the chemical material business and enhance the operational efficiency of its subsidiaries. There are a total of five corporations to be invested: OCI Dream, a standard workplace for the disabled, P&O Chemical, a joint venture with POSCO Future M, OCI China, OCI Japan, and Pilco Ferrakside.
OCI China currently produces the same carbon chemical products as OCI.
Shares of the five corporations owned by OCI Holdings will be invested in kind with OCI, while OCI will issue and allocate new shares to OCI Holdings in a third-party allocation of paid-in capital increase. The issuance price of OCI's new shares is 106,400 won, which will be issued after the court's review is completed.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
