Justek, a company specializing in ultra-precision motion control that is seeking a KOSDAQ listing, set its offering price at 12,500 won.
On the 16th, Justek said it conducted a book-building process for domestic and overseas institutional investors from the 8th to the 12th and finalized the offering price at 12,500 won, the top end of the indicated range (10,500–12,500 won).
A total of 2,252 domestic and overseas institutional investors participated, for a competition ratio of 1,295 to 1. In particular, 99.92% of participating institutions (including those that did not indicate a price) submitted prices at or above the top end.
Justek develops and supplies ultra-precision motion systems, with high-precision control equipment for semiconductor packaging processes as its main products. Last year on a consolidation basis, it posted sales of 22.2 billion won and an operating loss of 800 million won.
An official at Samsung Securities, the lead underwriter, said, "We believe demand was driven by Justek's unique competitiveness backed by its ultra-precision motion control technology and the potential to expand in the global market centered on Japan."
The company plans to use the IPO proceeds to expand its semiconductor customer base and foster aerospace as a new business. It plans to commercialize space-grade actuators and strengthen production capabilities.
Meanwhile, Justek will take subscriptions from retail investors for two days from the 18th to the 19th. Based on the finalized offering price, its market capitalization after listing is estimated at about 150.6 billion won.