Susan Industry Submits Securities Registration Statement... Aiming for KOSPI Listing by End of July

[Asia Economy Reporter Jang Hyowon] Susan Industry (CEO Han Bongseop), a comprehensive maintenance solution company for power plants, submitted a securities registration statement to the Financial Services Commission on the 22nd and officially began the process aiming for a listing on the KOSPI market by the end of July.

Susan Industry's total number of shares offered is 5,715,000, with a desired price band of 35,000 to 43,100 KRW per share. Demand forecasting will be conducted on the 14th and 15th of next month to finalize the offering price, followed by a two-day general subscription on the 20th and 21st. The scheduled listing time is the end of July, with Samsung Securities as the lead underwriter.

Established in 1983, Susan Industry provides comprehensive maintenance services for major nuclear, thermal, and renewable power plants, enhancing equipment operation rates and preventing unexpected shutdowns across various power plants. Sales composition based on last year's consolidated figures is 48.7% nuclear, 31.1% thermal, 10.8% renewable, and 9.4% others.

The company holds the distinctions of being ▲the only domestic private company performing routine maintenance on main nuclear power plant equipment ▲possessing extensive experience in turbine disassembly and modification based on top domestic turbine technology ▲operating maintenance and fuel environment equipment across all fields of thermal power plants ▲the first and largest domestic company performing routine maintenance and operation of biomass and renewable energy power generation facilities ▲and having balanced maintenance experience across all power generation sectors from nuclear to renewable energy, including routine maintenance and planned preventive maintenance (OH) for the latest high-efficiency combined cycle thermal power plants.

Susan Industry plans to strengthen its growth momentum by expanding overseas business orders, including maintenance of overseas nuclear power plants and maintenance projects for aging power plants in Southeast Asia. Last year’s consolidated sales amounted to 294.1 billion KRW, and operating profit was 51.3 billion KRW, marking significant growth of 11.5% and 54.1% respectively compared to the previous year. In the first quarter of this year, consolidated sales were 67 billion KRW and operating profit was 13 billion KRW, recording growth rates of 2.1% and 36.8% year-on-year, continuing its growth trend.

Han Bongseop, CEO of Susan Industry, stated, “We decided to list on KOSPI to establish a foundation for our company’s long-term and stable growth. The funds raised through the public offering will be used for domestic new business and overseas energy power generation investments, entry into new domestic and international energy markets, and research and development (R&D) investments.”

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