ISTE CI.

The semiconductor equipment corporation ISTE is set the offering price at 11,400 won.

ISTE noted on the 31st that it conducted demand forecasting for domestic and foreign institutional investors from the 21st to the 24th and finalized the offering price at the upper end of the desired offering range of 11,400 won.

A total of 2,074 domestic and foreign institutional investors participated in this demand forecasting. 99.1% of the participating institutions (including those not providing pricing) offered prices above the upper limit. The competition ratio was recorded at 1,148.16 to 1.

ISTE is a specialist manufacturer of semiconductor equipment commonly referred to as a "FOUP cleaner." The company plans to sell FOUP cleaners specialized for high bandwidth memory (HBM) and has set a revenue target of 70.6 billion won for this year.

This is ISTE's second attempt at listing. Previously, the corporation submitted a securities registration statement in October last year and began the listing offering process but canceled the remaining schedule due to poor demand forecasting.

The company plans to raise 1.3 million shares in this listing. It had previously aimed to raise 1.6 million shares but chose to reduce the amount slightly. Based on the confirmed offering price, the total offering amount is 14.8 billion won.

An official from KB Securities, the listing underwriter, said, "Institutional investors highly appreciated the development of the FOUP cleaner, which can perform separate cleaning and drying operations, and the effort to secure overseas clients."

ISTE plans to utilize the funds raised from the offering to develop chemical vapor deposition equipment, which is used for semiconductor processes. It also announced plans to expand its customer base for FOUP cleaners.

Meanwhile, ISTE will accept subscriptions from general investors over two days from Feb. 3 to 4. After the payment, the corporation plans to be listed on the KOSDAQ on Feb. 12.