SK Inno Subsidiary 'SK IE Technology (SKIET)' Pursues IPO

[Asia Economy Reporter Park So-yeon] SK Innovation's wholly owned materials subsidiary SK IE Technology (SKIET) is actively considering an initial public offering (IPO) to properly recognize its corporate value.

On the 9th, SKIET announced that as the first step in its full-scale IPO review, it sent a Request for Proposal (RFP) for the selection of underwriters to domestic and international securities firms the day before.

SKIET stated, "The specific schedule for the IPO has not been finalized," adding that "it will be confirmed after selecting the underwriters while monitoring the COVID-19 situation, the economy, and the stock market conditions."

The underwriters are expected to be selected in July through proposal submissions and presentations.

SKIET operates primarily in the manufacturing and sales of lithium-ion battery separators, a core material for IT and electric vehicle secondary batteries, and flexible cover windows that replace glass in flexible displays such as foldable phones.

To respond to the explosive growth in demand for secondary batteries driven by the global electric vehicle market, SKIET is actively pursuing new and expanded facilities domestically and internationally, including in Jeungpyeong, Chungbuk, China, and Poland.

Recently, by operating lines 12 and 13 in Jeungpyeong, Chungbuk, the separator production capacity has expanded from the existing 360 million square meters per year to 530 million square meters with a total of 13 lines. The overseas sites include the Changzhou plant in China, which is scheduled to begin commercial production in the fourth quarter of this year, and a separator factory under construction in the Silesian Voivodeship, Poland.

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