EST, a company specializing in electrostatic chucks (ESC) for semiconductor and display processes, is trading over 16% above its initial public offering (IPO) price on its first day on the KOSDAQ.
As of 10:20 a.m. on November 4, EST's shares are priced at 14,410 won, up 2,010 won (16.21%) from the IPO price of 12,400 won, according to the Korea Exchange.
Founded in 2016, EST develops, manufactures, and refurbishes electrostatic chucks, which are essential components that use electrostatic force to secure semiconductor wafers or display glass substrates within equipment.
During the demand forecast for institutional investors, EST recorded a competition rate of 630.10 to 1, confirming the IPO price at the upper end of the desired range of 12,400 won. The subscription competition rate for individual investors was 28.95 to 1, with total subscription deposits amounting to approximately 98.7 billion won.
The total number of shares offered is 2.2 million, raising 27.28 billion won. Daishin Securities is the lead underwriter for the listing.
EST plans to use the funds raised from this IPO to expand production facilities and inspection equipment for semiconductor electrostatic chucks, as well as for research and development (R&D).
Kim Young-gon, CEO of EST, stated, "With this KOSDAQ listing, we aim to strengthen our R&D and production capabilities and expand our business areas into next-generation processes such as glass core substrates and OLEDoS, positioning ourselves as a global leader in electrostatic chucks."
EST has built its business foundation around large-area electrostatic chucks for displays and has since expanded into semiconductor electrostatic chucks. In the display sector, it has secured ceramic coating technology using the atmospheric plasma spraying (APS) method and polyimide (PI)-based electrostatic chuck technology. In the semiconductor sector, it is advancing repair and refurbishment technologies for existing products and developing new equipment products using high-purity ceramic materials.
Recently, EST has been expanding its business into glass substrates used in next-generation semiconductor packaging and high-resolution display sectors. The company plans to enter new markets by developing electrostatic chucks for glass substrate manufacturing processes and ultra-large display products.
EST's financial performance has also improved. Last year, the company reported sales of 35.4 billion won and an operating loss of approximately 700 million won, but in the first half of this year, it achieved sales of 23.1 billion won and an operating profit of 475 million won, marking a return to profitability. EST aims to achieve sales of 70 billion won and an operating profit of 15.6 billion won by 2028 through expanded supply of semiconductor electrostatic chucks and mass production of new products.
* This article has been translated by AI.
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