Korean Battery Recycler Plans Share Sale as EV Demand Surges
- SungEel mulling IPO in second half, $1 billion revenue by 2030
- Korea is home to three of world’s top 10 battery manufacturers
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SungEel HiTech Co., a South Korean battery recycling company, plans to sell shares on the country’s tech-heavy Kosdaq bourse later this year as it targets revenue of around $1 billion and a 10% global market share by 2030.
The recycler is aiming to raise about 140 billion won ($110 million), according to a person familiar with the matter. A representative at the company declined to comment.