EcoPro Materials faces setback in IPO plan
Battery materials business group EcoPro is facing a major setback to its plan to list its key subsidiary EcoPro Materials within this year, as prosecutors investigate the company over allegations of insider trading by some of its former and incumbent executives and staff employees. According to the financial authorities, a joint investigation team on financial crimes established at the Seoul Southern District Prosecutors' Office as well as special judicial police officers from the Financial Services Commission (FSC) are currently investigating the company.