Abko Submits Securities Registration Statement... "Entering KOSDAQ Market Within the Year"

[Asia Economy Reporter Jang Hyowon] Abko (CEO Oh Kwanggeun), the No.1 gaming gear company in Korea, announced on the 27th that it has submitted a securities registration statement to the Financial Services Commission for its KOSDAQ listing.

The total number of shares offered is 2,507,000, with a desired offering price range of 21,400 to 24,300 KRW per share. A demand forecast for institutional investors will be conducted over two days from November 17 to 18, followed by a general subscription from November 23 to 24. The listing date is undecided and will be announced through the Korea Exchange market disclosure system once the schedule is finalized. Mirae Asset Daewoo is the lead underwriter, and through this offering, Abko plans to raise up to 60.9 billion KRW.

Abko has shown double-digit growth annually in its core business area of gaming gear (PC gaming keyboards, headsets, mice, and cases) based on excellent product quality and design elements, currently holding the No.1 market share in the domestic gaming gear market. Recently, sales have also been increasing in the smart device charging locker business, which it has invested in since 2017, and in the home appliance brand business launched in 2019 (Oella: small home appliances, Vitonic: audio devices).

Abko’s sales reached 47.3 billion KRW in 2017, 66.3 billion KRW in 2018, and 84.3 billion KRW last year, with a recent three-year average annual sales growth rate of 33.5%. Last year, operating profit and operating profit margin were 5.6 billion KRW and 6.6%, respectively. This year, in the first half alone, it recorded sales of 74 billion KRW and operating profit of 12.8 billion KRW, benefiting from the untact market environment.

CEO Oh Kwanggeun stated, “In addition to the high-performance gaming gear market where we maintain the No.1 market share, sales of newly launched small home appliances and audio device brands are increasing in the rapidly segmented home appliance market according to consumer needs. Recently, we were selected as the smart device charging locker business operator in the government’s 5th smart device pilot project for schools, following the 1st to 4th pilot projects, which brightens our sales outlook for next year.”

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