Samsung SDI Co., South Korea's second-biggest battery maker, said Friday it will raise 2 trillion won (US$1.37 billion) through a stock sale as part of its broader growth strategy. Its board of directors approved the capital increase aimed at "preemptively" securing a capital to

Samsung SDI said on March 14 it will raise 2 trillion won ($1.5 billion) through an equity offering to fund its expansion in electric vehicle (EV) battery production, positioning itself for long-term growth despite a temporary slowdown in demand.

Samsung SDI, a major Korean battery maker, announced on Friday that it would sell stock to raise 2 trillion won ($1.37 billion). The proceeds from the stock sale will be used mainly to finance stock acquisition.