Some leading South Korean battery recycling companies have made strong stock market debuts as they target overseas expansion during a global scramble for EV metals.
Shares of SungEel HiTEch and rival Sebit Chem have more than tripled since their listings in late July and early August, respectively. WCP, the country’s second-largest battery separator maker, is scheduled to go public at the end of this month with a Won432bn ($306mn) listing.
Recycling companies in South Korea, home to three of the world’s 10 biggest battery makers — LG Energy Solution, Samsung SDI and SK On — have easy access to the scrap from battery cell manufacturing and customers to buy the recycled material.
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