This Week's Notable IPO... V.C. Dreaming of a Golf IT Platform

[Asia Economy Reporter Ji Yeon-jin] VC, aspiring to be a global golf IT platform, is set to challenge entry into the KOSDAQ this month.

According to the financial investment industry on the 6th, VC will conduct a demand forecast on the 10th and 11th of this month, followed by a public offering subscription for the general public on the 15th and 16th. The expected offering price range is 15,000 KRW to 19,500 KRW, with an estimated market capitalization of 104.8 billion to 136.3 billion KRW. The expected offering amount is 15 billion to 19.5 billion KRW, and the raised funds will be used for acquiring other companies for new business expansion, overseas marketing operation funds, and research and development expenses. The scheduled listing date is the 24th of this month.

VC INC. is a golf IT device specialized company that develops and sells products such as golf rangefinders, launch monitors, and simulators to help enjoy golf more conveniently. Starting in 2011 with the world's first voice-type GPS rangefinder (VC100), the company has expanded its product lineup to include GPS rangefinders (watch-type and voice-type), laser rangefinders, launch monitors, and simulators, showing high growth in performance.

As of the third quarter of last year (January to September), cumulative sales amounted to 40.5 billion KRW, with watch-type GPS rangefinders accounting for 39%, laser type 13%, and launch monitors 17% of sales.

Researcher Choi Jong-kyung of Heungkuk Securities stated, "VC has grown into the unrivaled number one golf IT device company domestically, based on its self-developed core technologies (APL, RTK, GPS Pin Assist, etc.), the world's largest and highest-level golf course database, and a stable sales network, holding dominant market shares (watch-type 65%, voice-type 70%, laser 30%, etc.)." He added, "Centered on launch monitors, the company is advancing as a global golf IT company exporting to 25 countries worldwide, including the United States." As of the third quarter of last year, exports accounted for 30% of sales.

In particular, the company signed an official rangefinder partnership with the LPGA (Ladies Professional Golf Association) in June last year, and its SL2 (laser rangefinder) has been used in all LPGA tournaments. This is expected to significantly increase brand awareness and sales volume in the U.S. and global markets.

Researcher Choi noted, "The continuously growing domestic and international golf markets, especially the increase in golf population centered on the domestic MZ generation and the growth of screen golf practice ranges, are positive factors." He explained, "The company is evolving into a golf IT platform by continuously expanding its product portfolio from voice-type rangefinders to high-performance simulators." The expected offering price-to-earnings ratio based on this year's projected net profit is between 13.1 and 17.0 times.

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