by Ryu Hyunseok
Published 03 Jun.2024 14:25(KST)
IB Vision Works, a specialized company in secondary battery inspection systems based on Machine Vision, announced on the 3rd that it will actively pursue a KOSDAQ listing through a merger with Hana Financial 24th SPAC.
IB Vision Works received preliminary approval for listing from the Korea Exchange (KRX) KOSDAQ Market Division on the 30th of last month. On the following day, the 31st, it submitted a securities registration statement to the Financial Services Commission.
The merger price per share between IB Vision Works and Hana Financial 24th SPAC is 3,871 KRW and 2,000 KRW, respectively. The merger ratio between the two companies is 1 to 0.5166624. After the merger, the total number of issued shares will be 33,697,965. The shareholders' meeting to approve the merger will be held on July 12, and after the merger date on August 14, the company is scheduled to be listed on the KOSDAQ market in September.
Gil Kijae, CEO of IB Vision Works, stated, “As ESS (Energy Storage Systems), electric vehicles (EV), and portable electronic devices become widespread and secondary batteries are extensively used in everyday life, the demand for inspection in the battery manufacturing process is increasing. With the funds raised through the KOSDAQ listing, we plan to strengthen our research and development (R&D) capabilities and expand global project orders to meet the demand for secondary battery inspection systems.”
He also expressed his ambition, saying, “We will continue to innovate secondary battery machine vision technology and leap forward as a leading company in the next-generation energy industry.”
Founded in 2015, IB Vision Works is a company specializing in machine vision-based secondary battery inspection systems. It has a track record of supplying inspection equipment applied to the entire secondary battery manufacturing process (electrode-assembly-pack). Based on an accumulated database (DB), it has developed sophisticated AI machine vision algorithms. It provides differentiated customer-oriented solutions by custom designing secondary battery specialized inspection equipment optimized for each client’s manufacturing environment.
Recognized for its differentiated machine vision technology, IB Vision Works has secured domestic and overseas global top-tier clients. The company plans to expand its machine vision secondary battery inspection system business in line with each client’s production capacity (CAPA) expansion strategy and newly enter the cylindrical cell sector. Additionally, it aims to challenge the non-destructive inspection system market by developing new 3D inspection system products for secondary batteries and semiconductors using X-ray and near-infrared (NIR) light sources.
IB Vision Works recorded sales of 23.24169 billion KRW, operating profit of 2.77109 billion KRW, and net profit of 2.66904 billion KRW in 2023.
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