[IPO Spotlight] PNH Tech, Will the Public Offering Momentum Continue?

[Asia Economy Reporter Jang Hyowon] PNH Tech, a company specializing in organic light-emitting diode (OLED) materials, will be listed on KOSDAQ on the 16th. PNH Tech succeeded in its public offering by recording a high demand forecast competition rate.

PNH Tech recorded a competition rate of 1,454.47 to 1 in the demand forecast for institutional investors conducted over two days from the 28th to the 29th of last month. The public offering price was set at 18,000 KRW, exceeding the upper limit of the desired range. It also succeeded in the general public subscription with a competition rate of 1,528.76 to 1.

Founded in 2007, PNH Tech is primarily engaged in the research, development, and production of organic electronic materials for OLED displays. It obtained an A grade for its "organic light-emitting compound manufacturing technology" in a technology evaluation conducted by the Korea Institute for Advancement of Technology, enabling it to transfer its listing from KONEX to KOSDAQ under the special listing requirements for small and medium-sized materials and components companies.

PNH Tech is expanding its market entry through the localization of materials such as Red Prime, high-refractive optical materials, long-life Blue Host, catalysts, and raw materials. As of the end of the third quarter last year, the sales proportion by product was 38.5% for Red Prime, 23.6% for high-refractive optical materials, 9.9% for long-life Blue Host, 16.4% for catalysts, and 6.0% for raw materials.

The market outlook for PNH Tech’s products is positive due to the expansion of the OLED market and solid customer acquisition.

Minhee Lee, a researcher at IBK Investment & Securities, analyzed, “Due to the form factor advantages of OLED displays, they are being adopted in various application sets, expanding the market area. PNH Tech’s smartphone customers are increasing the number of models equipped with OLED, so the demand for the company’s organic materials is expected to rise significantly.”

Furthermore, PNH Tech’s global expansion is also evaluated positively.

Jongseon Park, a researcher at Eugene Investment & Securities, explained, “While the domestic sales ratio is 99%, the company is expanding cooperation and entry with global major companies. It is currently conducting joint development and mass production of OLED materials with US company D, and is negotiating patent licenses with a leading Japanese OLED material company.”

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