Semiconductor equipment specialist IST (CEO Cho Chang-hyun) announced on January 31st through a public disclosure that it had set the public offering price at 11,400 won, the upper end of the desired public offering range (9,700 won to 11,400 won).
According to the results of the demand forecast conducted by ISTE from January 21 to 24 targeting domestic and foreign institutional investors, a total of 2,074 companies participated, recording a competition rate of 1,148.16 to 1. In particular, 99.1% of the institutions that participated in the demand forecast (including the rate of non-presentation of prices) presented a price higher than the upper limit.
As the public offering price has been confirmed, IST will conduct general subscription for two days on February 3rd and 4th. The listing date is scheduled for February 12th.
After being selected as a technology innovation company by SK Hynix in 2023 through a previous IR, IST announced that it has supplied PECVD demo equipment, which is a core equipment for the entire process, and is aiming to complete mass production verification by the first half of this year.
In addition, the company forecasted annual sales of KRW 70.6 billion and operating profit of KRW 10.5 billion this year through continued sales of FOUP Cleaner equipment specialized for high bandwidth memory (HBM) developed in early 2024.
An official from KB Securities, the lead manager for the listing, said, “We believe that institutional investors have sympathized with IST’s future growth potential as it possesses technological prowess and business expandability, such as developing a FOUP cleaner capable of separate cleaning and separate drying and focusing on securing global customers, as well as accelerating the commercialization of PECVD.”
IST CEO Cho Chang-hyun said, “I would like to express my sincere gratitude to the investors who believed in IST’s technology and business growth potential,” and added, “We plan to use the funds secured through this IPO for research and development for PECVD equipment development and commercialization, and after listing, we will accelerate the completion of SiCN PECVD mass production verification and expansion of our customer base for the vacuum cleaner, thereby striving to increase shareholder value.”
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