SEOUL – Iljin Materials has received an investment for its subsidiary in Malaysia of some 600 billion won ($515 million) from a private equity fund.

The producer of core materials for lithium batteries said the investment comes from STIC Investments of South Korea.

The funds are expected to be used to increase the firm’s 10,000 tons of elecfoil per year to 80,000 tons. Iljin's plant in South Korea is reportedly capable of producing 20,000 tons annually.

Perpetual convertible bonds will be issued this month and timing of issuance will be in line with demand.

 

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