OLED Equipment Developer Shindogiyeon Confirms Public Offering Price at 16,000 Won

[Asia Economy Reporter Park Hyungsoo] Shindogiyeon, a developer of organic light-emitting diode (OLED) equipment, has set its public offering price at 16,000 KRW.

Shindogiyeon announced on the 24th that after conducting demand forecasting for institutional investors over two days from the 22nd to the 23rd, the public offering price was finalized at 16,000 KRW.

According to Korea Investment & Securities, which is managing Shindogiyeon's listing, demand forecasting was conducted for 1.04 million shares, accounting for 80% of the total public offering volume. A total of 1,381 institutions participated, recording a competition rate of 1,272.9 to 1.

Park Woonggi, CEO of Shindogiyeon, said, "The Chinese OLED market is expected to see steady investment going forward," adding, "We will focus on establishing global competitiveness through Shindogiyeon's excellent technological capabilities."

The total number of shares offered by Shindogiyeon is 1.3 million. Through the initial public offering (IPO), it plans to raise up to approximately 20.8 billion KRW. After demand forecasting, subscription for general investors will be conducted on the 25th and 26th for 260,000 shares, which is 20% of the total volume. The scheduled listing date is the 6th of next month.

Shindogiyeon will use the public offering funds to expand production facilities and for research and development.

Founded in 2000, Shindogiyeon leads the market in silicon pad bonding technology and diaphragm attachment technology for 3D laminators among LCD and OLED post-processing equipment, as well as autoclave technology.

It has been recognized for its excellent technological capabilities through exclusive supply contracts with domestic and overseas display panel manufacturers. In particular, with the Chinese OLED market planning new facility investments worth 18 trillion KRW over the next one to two years, Shindogiyeon is expected to solidify its position within the Chinese market.

Going forward, Shindogiyeon will focus on expanding sales of 3D laminators for OLEDs applied with the latest technology while pursuing additional overseas market expansion. It plans to broaden its business areas into hydrogen fuel cells and vacuum glass sectors by utilizing its proprietary bonding technology.

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