파인엠텍, 파인디앤씨 공개매수…CB 오버행 선제 차단

Fine M-Tech is acquiring majority control of subsidiary Fine D&C at a 50%+ premium to preempt share dilution from ~223 million potential shares (21% dilution risk) from outstanding convertible bonds and warrants. This pre-emptive strategy reveals how South Korean battery component manufacturers must defend shareholder control against the dilution cascades created by sequential CB issuance for capex financing.