The IPOX® Watch: EcoPro BM
COMPANY DESCRIPTION
ECOPRO BM is a battery material business unit, spun-off from ECOPRO in 2016, headquartered in Chungcheongbuk-do, South Korea. EcoPro BM specializes in cathode active materials and precursors. EcoPro BM develops and mass-produces high nickel cathode materials for electric vehicles (EV), power tool (P/T), electric energy storage systems (ESS), uninterruptible power supply (UPS), smart grids, aerospace, medical and military purposes.
BUSINESS MODEL
EcoPro BM generates revenue mainly through cathode materials supply contracts.
IPO HISTORY
On 03/05/2019, EcoPro BM Co., Ltd, the EcoPro 2016 spun-off, began trading on KOSDAQ led by Daishin Securities. The cathode materials market leader offered 3.6 million shares, upsized from 3 million, at 48,000 Korean won per share, above its expected price range (₩37,500 - ₩42,900). EcoPro BM was valued at ca. 952.80 billion won ($746m) at offer.
EcoPro BM Co., Ltd was included in the IPOX® International Index (ETF: FPXI US) on 03/20/2023 and has gained +126.47% since addition to the index.
