Hantech Co., Ltd. announced that it has submitted a securities report to the Financial Services Commission and has begun the public offering process for listing on KOSDAQ.
The lead manager for the listing is Daishin Securities, the number of shares being offered is 3,309,000, and the target offering price per share is set between 9,200 and 18,000 won. Accordingly, the expected offering amount is 30.443 billion won based on the lower limit and 35.737 billion won based on the upper limit.
Hantek will conduct demand forecasting for institutional investors for five business days from February 11 to 17 to determine the offering price, and will conduct general public subscriptions on February 20 and 21. The listing date is scheduled for March, and trading will begin after listing.
Established in 1998, Hantech's main business is the design and manufacture of chemical equipment essential for plant construction and industrial cryogenic gas storage tanks. The company is continuing to do business with a number of global energy companies based on its outstanding design capabilities and manufacturing technology for non-ferrous special materials such as titanium and zirconium.
Hantech's 2023 sales are expected to be KRW 178.6 billion, up 30.9% year-on-year, while operating profit and net profit are expected to be KRW 15.1 billion and KRW 14.8 billion, up 80.4% and 82.6%, respectively. The cumulative performance for the third quarter of 2024 was KRW 111.5 billion in sales, KRW 11.6 billion in operating profit, and KRW 16.3 billion in net profit.
In the future, Hantech plans to continue to grow in the tank business sector, which is expected to benefit from the expansion of global eco-friendly policies. In particular, it plans to pursue various carbon-neutral storage tank businesses, starting with the production of large-scale ammonia tanks. In addition, as the US regime change is expected to lead to an expansion of investment in LNG plants around the world, it plans to actively respond to this and pursue mid- to long-term growth.
Park Geon-jong, CEO of Hantech, said, “We will continue to grow and innovate through efficient operation of our two business divisions, chemical equipment and storage tanks,” and “Through the KOSDAQ listing, we will expand investment in the eco-friendly energy industry and increase our recognition and reliability as a global company.”
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