[IPO] Sigetronics Listed on KOSDAQ... "Leap to Global Leader in Specialized Semiconductors"

Specialized semiconductor company CGtronics announced that it aims to surpass KRW 75 billion in sales by 2025 following its listing on KOSDAQ.

On the 18th, CGtronics CEO Shim Gyu-hwan held a press conference in Yeouido, Seoul, for the KOSDAQ market listing and stated, “CGtronics has commercialized power and RF (Radio Frequency) devices using gallium nitride (GaN), a compound semiconductor material, securing next-generation semiconductor game changer items. Through our proprietary foundry line ‘M-FAB (Multi-Project FAB)’ applying the core Epi (epitaxial) process technology, we will grow into a global leader in specialized semiconductors covering everything from in-house production to foundry services.”

Founded in 2008, CGtronics has secured essential core technologies for specialized semiconductor manufacturing, including new device design technology, epitaxial growth micro-bonding technology, and manufacturing process technology. The company has developed and produced electrostatic discharge (ESD) devices, sensor devices, and power devices, supplying semiconductor components applied across various industries such as machinery, electrical, electronics, automotive, and bio sectors.

In particular, CGtronics expanded the power device domain beyond conventional silicon materials and succeeded in developing gallium nitride power devices, a compound semiconductor with wide bandgap (WBG) characteristics. Gallium nitride power devices are over 30% smaller in size compared to existing products, have lower resistance, and minimize current fluctuation, leading to rapidly increasing demand in various fields such as power semiconductors, AESA radar, LiDAR sensors, high-speed electric chargers, and electric vehicles.

Among CGtronics’ total 67 employees, 19, including 6 with master’s or doctoral degrees, are engaged in research and development, accounting for about 30%. CGtronics, which is building an integrated multi-fab platform from epitaxy to devices, has secured global customers in automotive, aerospace, aviation, and healthcare sectors, with exports driving 90% of its sales.

CEO Shim said, “With CGtronics’ own M-FAB and Epi process capabilities, we can reduce new device development time by 50% compared to competitors of similar scale. We are continuously securing overall cost competitiveness through the introduction of AI automatic inspection systems and smart factories.”

Through these efforts, CGtronics, which recorded KRW 14.5 billion in sales last year, expects to achieve KRW 26.3 billion this year and KRW 51.5 billion next year, with operating profit turning positive above KRW 6 billion. The goal for 2025 is KRW 75.2 billion in sales and KRW 14.3 billion in operating profit.

Meanwhile, CGtronics plans to offer a total of 900,000 shares through this KOSDAQ listing. The desired public offering price range is between KRW 18,000 and KRW 20,000, aiming to raise up to KRW 18 billion based on the upper limit. The proceeds will be invested in expanding production capacity of existing products, facility expansion for mass production of next-generation products, and research and development expenses. Once the offering price is finalized, subscription will take place over two days from the 24th to the 25th of this month, with listing expected in early next month. Yuanta Securities is the lead underwriter.

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