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Samsung SDI cuts pricing of $1.4 billion share-sale as global markets tumble
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Samsung SDI cuts pricing of $1.4 billion share-sale as global markets tumble
Apr 8, 2025 6:53 PM

SEOUL, April 9 (Reuters) - South Korean battery maker

Samsung SDI, said on Wednesday it would cut the

pricing of new shares to raise 2 trillion won ($1.4 billion) by

14%, after its stock tumbled in the global markets' selloff

triggered by U.S. tariff fears.

Samsung SDI indicated it plans to sell its new shares at

146,200 Korean won ($98.41) each, down from the 169,200 won

announced last month. The final price will be set on May 19.

Its shares have fallen 5% in the past week as U.S. President

Donald Trump's tariffs created turmoil in international equities

markets as investors feared a global economic slowdown could

occur. The stock is down 29.5% year to date.

The company said in March it would issue 11,821,000 new

shares to raise capital to fund a U.S. joint venture with

General Motors ( GM ) and to expand factory capacity in Hungary,

among other investments.

The South Korean won tumbled to a more than 16-year low on

Wednesday.

A Samsung official said on Wednesday the final price and

size of the capital raising could change depending on market

conditions.

Samsung SDI shares were down 1% on Wednesday while South

Korea's Kospi index was trading off 0.5%.

($1 = 1,485.60 won)

(Reporting by Hyunjoo Jin and Jihoon Lee; writing by Scott

Murdoch; Editing by Tom Hogue and Editing by Muralikumar

Anantharaman)

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