WiFarm, IPO Price Set at 11,000 Won..."Top of Desired IPO Price Range"

[Asia Economy Reporter Yoo Hyun-seok] Y-Farm, a manufacturer of power amplifier modules for 5G mobile communication terminals, announced on the 20th that it has finalized the public offering price at 11,000 KRW following a demand forecast conducted for institutional investors from the 16th to the 17th.

A total of 898 institutional investors participated in this demand forecast, recording a competition rate of 407.01 to 1. The public offering price was set at the upper end of the desired price band of 9,700 to 11,000 KRW, at 11,000 KRW, confirming a total public offering amount of 81.7 billion KRW. Notably, among the 898 participating institutions, 843 institutions, accounting for 93.9%, proposed prices within the top 75% to above the upper limit of the band.

Established in December 2006 for the purpose of manufacturing and researching high-efficiency power amplifiers for wireless communication, Y-Farm develops, manufactures, and sells RF front-end modules (RFFEM), which are key components of the transmitter section in wireless communication devices.

Since 2016, the number of smartphones equipped with Y-Farm power amplifiers has steadily increased, and based on 2019 sales, the average annual growth rate over the past three years was 84.5%. Y-Farm's 2019 performance recorded sales of 125.4 billion KRW, operating profit of 12 billion KRW, and net profit of 11.3 billion KRW, representing increases of 94%, 144%, and 249% respectively compared to the previous year.

Y-Farm aims to enhance its external credibility through listing on the KOSDAQ market and strengthen its product and technological competitiveness in the 5G market. Additionally, having secured a full lineup of all categories of RF front-end module transmitter components, Y-Farm plans to expand its applicable product groups with the proceeds from this IPO to increase market share.

Yoo Dae-gyu, CEO of Y-Farm, expressed gratitude to the institutional investors who participated in the demand forecast, stating, “Y-Farm, which has steadily grown since its establishment, will leap forward as a solid global top-tier company in the RF component field through this listing,” revealing the post-listing vision.

Meanwhile, Y-Farm is scheduled to conduct subscription from July 21 to 22 and list on the KOSDAQ securities market on the 31st. After listing, the market capitalization based on the public offering price will be 408.6 billion KRW.

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