Specialized semiconductor equipment company ISTE conducted a public offering subscription for general investors from March 3 to 4, recording a subscription competition rate of 455.83 to 1, the company announced on April 4.
ISTE received a total of 89,314 subscription applications for its general offering. About 844.4 billion won was collected as a deposit, which is half of the subscription amount. The listing date on the Korea Securities Dealers Automated Quotations (KOSDAQ) market is set for the 12th. The lead manager is KB Securities.
In a demand forecasting held from January 21 to 24, a total of 2,074 domestic and foreign institutional investors participated, achieving a competition rate of 1,148.16 to 1. The final offering price was confirmed at 11,400 won, the upper limit of the anticipated offering range.
ISTE announced that after being selected as a technology innovation company by SK hynix in 2023 during its earlier corporate presentation (IR), it supplied PECVD demo equipment, a core tool for full process, with the goal of completing mass production verification by the first half of this year.
Additionally, it has projected an annual sales growth of 70.6 billion won and an operating profit of 10.5 billion won through the continuous sale of the FOUP Cleaner equipment specialized in high-bandwidth memory (HBM), which was developed in early 2024.
ISTE CEO Cho Chang-hyun noted, 'As the development of the semiconductor industry, including HBM, is expected to continue, we will strive to maximize corporate value by focusing more on completing mass production verification of SiCN PECVD and expanding FOUP Cleaner customers.'