Semiconductor equipment specialist IST (CEO Cho Chang-hyun) announced on the 2nd that it has submitted a securities report to the Financial Services Commission and will begin the public offering process for listing on KOSDAQ.
Previously, ISTE had submitted a securities report in October of last year and was preparing for listing, but postponed the public offering schedule on December 9 due to instability in the domestic stock market.
According to the securities report submitted by IST, the target offering price range remains unchanged at 9,700 to 11,400 won, but the offering volume has been reduced from 1.6 million to 1.3 million shares. Consequently, the total offering amount has decreased to 12.6 to 14.8 billion won, and the projected post-IPO market capitalization has decreased to 87.3 to 102.6 billion won. Last year, when the company pursued its IPO, the total offering amount was 15.5 to 18.2 billion won, and the projected post-IPO market capitalization was 90.3 to 106.1 billion won. Since this is a second attempt, the company explained that it has reduced the offering size and corporate value to reduce the burden on investors in the IPO market.
An IST official stated, “We have reduced the burden by adjusting the offering volume to be market-friendly, taking into account factors such as the volatility of the domestic stock market, and we expect that the instability of the domestic stock market will be somewhat alleviated, as the general subscription and listing are scheduled for February.”
He continued, “As the FOUP cleaner business in 2024 and the PECVD[1] mass production verification are progressing smoothly, we expect to achieve performance growth through the promotion of new businesses in 2025.”
Following the filing of the securities report, IST will conduct a demand forecast for institutional investors for five business days from January 21st to 27th, and will conduct general subscriptions on February 3rd and 4th.
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