EcoPro BM Completes $655 Million Raise for Indonesian Nickel
Existing shareholders oversubscribed the 886 billion won rights offering to fund a Sulawesi smelter stake and bypass Chinese-dominated battery supply chains.
SPBy Seung-min Park, Korea correspondent, batteries and EVs··Updated October 19, 2026·4 min read
ShareLinkedInXWhatsAppEmailA worker welds a metal pipe at an industrial construction site as EcoPro BM funds an Indonesian nickel smelting project. (AI-generated image)
EcoPro BM said Oct. 19, 2026, that existing shareholders fully subscribed its 886.1 billion won ($655 million) rights offering, securing the capital needed for an Indonesian nickel smelting project.
The transaction allocates 765.0 billion won ($565 million), representing 86% of total proceeds, to acquire an equity stake in PT Bahodopi Nickel Smelting Indonesia. The remaining 121.1 billion won supports a cathode manufacturing plant in Debrecen, Hungary.
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Korea correspondent, batteries and EVs — Seung-min Park covers Korean cell makers and the cathode and separator suppliers behind them, including their plants in North America and Europe.
