Mdevice announced that it has submitted a securities report to the Financial Services Commission and will begin public offering procedures for listing on KOSDAQ.
The total number of shares offered by Mdevice is 1.26 million, and the desired offering price range is set at 7,200 won to 8,350 won. The total offering amount is expected to be between 9.07 billion won and 10.52 billion won. After conducting demand forecasting for institutional investors from February 12 to 18, subscriptions will be accepted for general investors on February 24 and 25. The lead underwriter is Samsung Securities.
Mdevice is a company specializing in the design and production of SSDs (Solid-state drives), and it shows superior performance in data storage speed and durability by using semiconductor-based SSDs instead of HDDs (Hard Disk Drives). In line with the increase in demand for SSDs across the industry, Mdevice is expanding its business, and in 2017, it proved its technological prowess by independently developing the world’s fourth BGA SSD. In addition, it is securing a stable raw material supply chain through fixed transaction contracts with integrated semiconductor companies.
Mdevice successfully entered the Chinese enterprise SSD market in 2023 and is expected to achieve sales of 48.1 billion won in 2024. It is expected to turn a profit in 2024 and the operating profit margin is also expected to reach 10%.
Currently, Mdevice has a reference for supplying large-scale enterprise SSDs to global customers, and is focusing on discovering additional customers and expanding high-spec SSD mass production and exports. In addition, it is promoting the advanced packaging business to diversify sales.
MDevices stated, “As we have strengthened our technological competitiveness in line with the expansion of the global SSD market, we are being recognized in the global market,” and “In the future, we will create synergy effects between the two business divisions by expanding our SSD business and promoting a new hybrid bonding business, and lead next-generation technology and external growth.”
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