South Korea’s semiconductor and display equipment manufacturer C&G Hi Tech Co. will become the first company to go public on the nation’s secondary Kosdaq market next year.

C&G Hi Tech said Monday that it will offer 1,288,000 shares at a price band of 16,000 won ($14.7) to 20,000 apiece and determine the final initial public offering (IPO) price after a book-building session on January 10-11, 2018. The public subscription is scheduled on Jan.16-17 ahead of its debut on the tech-laden Kosdaq bourse by the end of the month. The IPO underwriter is Shinhan Investment Corp.

Founded in 2002, C&G Hi Tech produces chemical central supply systems for chip and display manufacturing. Its main customers include the nation’s chip-making powerhouses Samsung Electronics Co. and SK Hynix Inc., the world’s leading display maker Samsung Display Co. as well as other global chipmakers.

Its operating profit amounted to 7.9 billion won on sales of 61.2 billion won during the January to September period this year, already exceeding last year’s full-year operating profit of 6.5 billion won and sales of 44.3 billion won thanks to the extended boom in the global semiconductor industry. Its net income reached 6.4 billion won over the Jan-Sep period, also surpassing 5.5 billion won in net profit for full 2016.

After the IPO, the company plans to focus on new businesses including local production of chemical tank liners and chemical recycling plant business. An official from the company said it expects a stable growth for the next two to three years thanks to the large-scale investment from semiconductor and display manufacturers from home and abroad. He added that the company aims to achieve more than 20 percent growth a year by diversifying its business portfolio to material and plant businesses in order to offset any negative impact from memory chip industry’s bust cycles.

By Cho Hee-young and Choi Mira

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]