Seongil Hi-Tech Submits Securities Registration Statement for KOSDAQ Listing... Aiming for Listing Next Month

[Asia Economy Reporter Hyungsoo Park] Secondary battery recycling company Seongil Hightech announced on the 17th that it has submitted a securities registration statement to the Financial Services Commission for listing on the KOSDAQ market and has entered the listing procedure.

The total number of shares offered by Seongil Hightech is 2.67 million shares, and the desired price range per share is 40,700 to 47,500 KRW. A demand forecast will be conducted over two days from the 11th to the 12th of next month to finalize the offering price. The scheduled listing date is the end of July, with KB Securities and Daishin Securities as the lead underwriters, and Samsung Securities participating as the underwriting company.

Seongil Hightech CEO Kangmyung Lee said, "Since founding the company with the philosophy of 'turning finite resources into infinite resources' to preserve the green environment, we have grown into one of the world's leading secondary battery recycling companies." He added, "We decided to list on the KOSDAQ market to firmly establish a leading position in the global market through bold and proactive facility investments."

Founded in 2000, Seongil Hightech is a secondary battery recycling company that extracts valuable metals from secondary batteries used in electric vehicles, mobile phones, laptops, energy storage systems (ESS), and power tools. It is the only company in Korea that possesses an integrated secondary battery recycling process. It produces the five major secondary battery materials: cobalt sulfate, lithium carbonate, nickel sulfate, manganese sulfate, and copper. It also recovers key valuable metals.

Through the advancement of wet smelting technology, it produces the highest quality products on the largest scale in Korea. It has established bases with large-scale production capacity (CAPA) centered on global automobile OEMs and battery manufacturers, enabling flexible raw material supply response. It has also secured a stable supply chain by forming strong networks with automobile manufacturers, battery manufacturers, and material companies.

Seongil Hightech’s consolidated sales increased by 123%, from 65.9 billion KRW in 2020 to 147.2 billion KRW in 2021. Operating profit also turned positive compared to the previous year. In the first quarter of this year, sales reached 51.5 billion KRW and operating profit was 10 billion KRW, increasing by 62% and 153% respectively compared to the same period last year.

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