ISTE is strong on its first day of listing.
As of 9:12 a.m. on the 12th, ISTE is trading at 19,570 won, up 71.75% from its public offering price.
ISTE is a company engaged in the equipment business. It sells equipment and components used in various other industries, including semiconductors, OLED, LCD, and automobiles. Since 2016, it has also supplied foup cleaners to SK hynix. A foup cleaner is a device that cleans a foup, a special container that protects and transports wafers.
The demand forecast competition rate for institutional investors before the listing recorded 1,148.16 to 1. Among the institutions that participated in the demand forecast, 99.1% submitted bids above ISTE's desired range for the public offering price. As a result, the final public offering price was set at 11,400 won, the upper limit of the desired offering price range. The competition rate for the public subscription targeting general investors was 455.83 to 1.
Just before the listing, on the 10th of this month, ISTE announced that it had won an order for semiconductor equipment from a domestic semiconductor backend packaging test (OSAT) company based in the U.S. With this order, ISTE projected to achieve sales of 70.6 billion won and an operating profit of 10.5 billion won this year. However, this is a projection, and actual performance may vary.
Before its listing, ISTE's sales revenue in the first to third quarters of last year was 27.8 billion won, with operating profit around 400 million won.