SEOUL (Reuters) – Samsung SDI, a South Korean battery maker, cut the pricing of new shares to be issued by 14%, after its stock tumbled in the broad sell-off triggered by U.S. tariff fears.
Samsung SDI plans to sell its new shares at 146,200 Korean won ($98.41) each, down from the 169,200 won announced last month.
On March 14, Samsung SDI said it would issue 11,821,000 new shares to raise 2 trillion won ($1.4 billion) for a U.S. joint venture with General Motors and to expand factory capacity in Hungary among other investments.
($1 = 1,485.6000 won)
(Reporting by Hyunjoo Jin and Jihoon Lee; Editing by Tom Hogue)
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