On the 18th, Mdevice held an IPO press conference in Yeouido, Seoul and announced its growth strategy after listing on KOSDAQ.
The total number of shares offered by Mdevice is 1.26 million, the desired offering price per share is 7,200 won to 8,350 won, and the total offering amount is 9.1 billion won to 10.5 billion won. After confirming the offering price by conducting demand forecast for institutional investors from February 12 to 18, subscription for general investors will be conducted for two days on the 24th and 25th of the same month. It is scheduled to enter the KOSDAQ market on March 7, and the lead manager is Samsung Securities.
Founded in 2009, Mdevice is a company specializing in designing and manufacturing SSDs (Solid-state drives). It directly performs the entire process of SSD design, manufacturing, assembly, inspection, and sales, and is engaged in all SSD-related businesses, including enterprise SSDs, consumer SSDs, and BGA (Ball Grid Array) SSDs.
Among these, Mdevice's main product is enterprise SSD. Enterprise SSDs have higher technical requirements than consumer SSDs as they are used in ultra-large data centers and corporate servers that process high-performance calculations. Despite the technical barriers to entry, Mdevice has developed enterprise SSDs with high performance, high capacity, low power, low heat, stability, and security through continuous research and development.
Since then, Mdevice has been targeting the Chinese market, where the data center market is growing rapidly. It successfully entered the Chinese enterprise SSD market in 2023, recording annual sales of KRW 9.85 billion in 2023 and is expected to exceed KRW 48.1 billion in sales in 2024, showing rapid growth.
The factor that enabled Mdevice to quickly settle into the enterprise SSD market is its global-level design and manufacturing capabilities. In order to produce SSDs, it is important to secure high-quality NAND flash memory, and Mdevice has secured a stable raw material supply capability by signing a long-term contract with an integrated device manufacturer.
In addition, it has the advantage of being able to quickly supply finished products to the market by directly carrying out customized design, manufacturing, and supply for each customer through its own design technology. In addition, it is highly evaluated in the industry for improving product reliability by conducting full inspection of mass-produced SSDs to detect and eliminate defective products early.
In addition to its stable design and manufacturing capabilities, Mdevice has also proven its technological prowess by successfully developing the world's fourth BGA SSD in 2017.
Based on its unrivaled technology and production capacity, Mdevice plans to expand its competitiveness in the Chinese enterprise SSD market. The company said that it is currently conducting enterprise SSD tests targeting the European market and expects the supply chain to expand in the future.
In addition to existing businesses, the company plans to pursue next-generation technology leadership and external growth by promoting a new business called Hybrid Bonding. As Hybrid Bonding, a next-generation packaging technology, has recently been in the spotlight, MBDICE also announced that it is establishing a department related to the business and preparing to apply for a patent for the Hybrid Bonding method within the year.
“With the recent introduction of DeepSeek, not only has interest in data centers grown, but actual demand is also expanding,” said Cho Ho-kyung, CEO of Mdevice. “Based on the competitiveness and supply reference of our enterprise SSD products, we plan to further attack the global enterprise SSD market.”
He added, “If the existing SSD business is operated stably and the new hybrid bonding business is launched in earnest, we expect to see remarkable growth through the synergy between the two business units.”
The funds raised through the listing will be used for facility investments such as installing a clean room for the operation of the Advanced Package (AVP) line, hiring professional personnel to promote new businesses, and operating funds.
- See more related articles
You must be logged in to post a comment.