Secondary Battery Company Naintech to Enter KOSDAQ Market in April

[Asia Economy Reporter Oh Ju-yeon] Ninetech, a specialized company in secondary battery and display process equipment, has entered the final stage of listing on KOSDAQ through a merger with Kyobo No.7 SPAC. If the agenda is approved at the extraordinary general meeting of shareholders for merger approval on the 3rd of next month, it is scheduled to be listed on the KOSDAQ market in April.

On the 24th, Ninetech held an IPO briefing session in Yeouido and announced this listing plan.

Founded in 2006, Ninetech grew as a display equipment company and later sought business diversification, expanding into secondary battery assembly process equipment. The current core business, the secondary battery sector, is showing remarkable growth due to the rapid expansion of the global electric vehicle market.

In particular, the company explained that its references and technological competitiveness in roll-to-roll lamination & stacking equipment, covering from small to large sizes, are recognized as clear competitive advantages and highly praised for excellence. Thanks to this, the provisional sales revenue as of last year is expected to reach 75.3 billion KRW, marking an all-time high performance.

Additionally, the existing core display business is also showing signs of a turnaround centered on OLED TVs, and future performance growth is anticipated based on its unique references in large-area vacuum logistics equipment focused on large OLED panels and cleaning technology know-how in the flexible OLED field.

Park Geun-no, CEO of Ninetech, stated, "We have successfully diversified our business from display equipment to secondary battery business, and we will not be complacent but will become a company capable of sustainable growth through further diversification." He added, "We are currently promoting semiconductor equipment refurbishing business and have reached a visible stage," and mentioned, "We will continue to pursue business expansion, and the cornerstone will be the listing on the KOSDAQ market through this merger."

The listing sponsor is Kyobo Securities, and the merged entity is Kyobo No.7 Special Purpose Acquisition Company. The par value is 100 KRW, and the number of shares after the merger is expected to be 37,126,554 shares.

The extraordinary general meeting for merger approval will be held on March 3, and the scheduled listing date for the new shares from the merger is April 22.

This content was produced with the assistance of AI translation services.