# 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.*

**Published:** October 19, 2026  
**By:** Seung-min Park  
**Section:** Batteries & Electric Vehicles — South Korea  
**Format:** Company Watch  
**Confidence:** high  
**Source:** https://eastasiabrief.com/batteries-ev/ecopro-bm-completes-655-million-raise-indonesian-nickel-802  
**Publisher:** East Asia Brief (https://eastasiabrief.com/)

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## What to know

- Rights offering raises 886.1 billion won with 103.25% subscription rate
- 765 billion won funds 39% stake in 90,000-ton BNSI Indonesian nickel project
- New shares list Nov. 5, 2026, ahead of March 2027 mechanical completion

![A worker welds a metal pipe at an industrial construction site as EcoPro BM funds an Indonesian nickel smelting project. (AI-generated image)](https://eastasiabrief.com/media/2026-10-19-f0207a23723a.webp)
*A 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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Cite as: East Asia Brief, "EcoPro BM Completes $655 Million Raise for Indonesian Nickel," October 19, 2026. https://eastasiabrief.com/batteries-ev/ecopro-bm-completes-655-million-raise-indonesian-nickel-802