SeAH Steel Holdings announced in a regulatory filing on the 10th that it has decided on a paid-in capital increase of approximately KRW 70 billion to secure facility and operating funds for its subsidiary, SeAH Wind Ltd. (hereinafter referred to as SeAH Wind), which manufactures offshore wind foundation structures.

This paid-in capital increase will be conducted through a shareholder allocation method, and SeAH Wind will newly issue a total of 3,536,000 registered redeemable convertible preference shares (RCPS). The total capital increase amounts to 35,006,400 GBP, which converts to approximately KRW 71.009 billion based on the applicable exchange rate stated in the filing (1 GBP = KRW 2,030.78).

The new shares will be issued at KRW 20,105 (9.90 GBP) per share, with a face value set at KRW 10,154 (5 GBP) per share. All newly issued shares will be registered redeemable convertible preference shares (RCPS).

The raised funds are expected to be divided and used as KRW 6,093,639,699 for facility funds and KRW 10,153,900,000 for operating funds. The company stated, "The funds from this paid-in capital increase are planned to be used for purposes such as facility and operating funds."

Both the new share allocation base date and the payment date are set for July 2, 2026, with 0.1019999 shares allocated per existing share. However, the company explained that this schedule is based on the initial scheduled remittance date and may be subject to change depending on future progress.

Meanwhile, SeAH Wind, a key subsidiary of SeAH Steel Holdings, operates the offshore wind foundation structure manufacturing business. With total assets of approximately KRW 2.2349 trillion, the company is a core subsidiary accounting for 36.96% of SeAH Steel Holdings' consolidated total assets.