BTL Cheomdan Sojae, Pursuing KOSDAQ Technology Special Listing

Cheon Sang-wook, CEO of BTL Advanced Materials (center), and representatives from Shinhan Financial Investment and Hana Financial Investment

[Asia Economy Reporter Eunmo Koo] Secondary battery material company BTL Advanced Materials is pursuing a listing on the KOSDAQ market.

BTL Advanced Materials announced on the 9th that it has signed a joint underwriting agreement for the listing with Shinhan Financial Investment and Hana Financial Investment. The company plans to undergo a technology evaluation in the second half of next year and apply for listing in early 2022.

BTL Advanced Materials is a company that developed and localized aluminum (Al) pouch film, one of the core materials of secondary batteries, which has been 100% dependent on imports from Japan. KOSDAQ-listed KPM Tech holds a 32.5% stake, making it the largest shareholder.

A company official explained, “Since Japanese companies DNP and Showa Denko monopolize the pouch film market and supply shortages continue, we have advanced the timing of the listing earlier than originally planned. The global pouch film market is expected to rapidly grow to about 21 trillion KRW by 2030, so we judged that proactive large-scale facility investment is necessary.”

BTL Advanced Materials views the listing support measures for material and component companies, implemented since last year, as increasing its chances of listing. Unlike general companies (which require two technology evaluations), material and component companies only need to receive an A grade or higher from one technology evaluation agency. The listing review period has also been significantly shortened from 45 days to 30 days. Additionally, new material and component-related evaluation agencies have been added to the technology evaluation agencies designated by the exchange.

Recognition of its technological capabilities by the government is also positive for the technology evaluation. BTL Advanced Materials was selected last month on the 11th as a support target for the 'Material, Component, and Equipment Startup 100' program hosted by the Ministry of SMEs and Startups.

The company was also selected for a national project by the Korea Institute for Advancement of Technology (KIAT) and will receive a total of 3 billion KRW in government grants over three years. The national project is part of the Ministry of Trade, Industry and Energy’s ‘2020 Industrial Technology International Cooperation International Joint Technology Development Project (Global Demand-Linked Type),’ aimed at promoting overseas market entry and participation in the global value chain (GVC) of domestic companies with technological capabilities through international joint technology development.

A company official expressed confidence, saying, “In terms of quality, we have already reached the level of Japanese companies that dominate the global market, and especially in key tests such as formability, we have shown even better results. Since we are recognized and supported by government agencies for our technological capabilities, we are confident in passing the technology evaluation.”

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