The Only Domestic Mixing System Specialist Securing Customers from Korea's Top 3 Battery Companies
Demand Forecast on July 6-7, Subscription on July 13-14, Targeting KOSDAQ Listing by Late July
[Asia Economy Reporter Eunmo Koo] TSI, a specialized company in secondary battery mixing systems, announced on the 19th that it has submitted a securities registration statement and has begun the public offering process to transfer its listing from the KONEX market to the KOSDAQ market.
TSI's predecessor was Taeseong Machinery, established in 1996. TSI is a secondary battery mixing system company with over 20 years of experience and specialized know-how. The company provides total mixing system solutions for the mixing process, the first step in the electrode process of secondary battery manufacturing. The mixing system refers to the mixing process that creates a slurry form by mixing and dispersing active materials, conductive agents, binders, and solvents necessary for secondary battery manufacturing, supplying it to the coating process.
TSI has developed domestic and international patents and design registrations related to secondary batteries, as well as the Corona Mixer, which shortens mixing time, and an anode-specialized mixer. Based on this technological capability, the company has secured all three domestic battery companies as clients. Furthermore, it is researching and developing a mixer to replace the existing batch-type mixing process paradigm with a continuous type.
The Dispersion Technology Center, which has a one-stop process from research and development to product orders, is also noteworthy. TSI’s Dispersion Technology Center not only develops next-generation technologies and customized equipment for customers but also possesses mass production test equipment, allowing customers to directly experience the equipment's effectiveness, thereby enhancing customer satisfaction.
Last year’s business performance recorded sales of 61 billion KRW and operating profit of 5.9 billion KRW. In particular, operating profit increased by 14.9% compared to the previous year, improving profitability and diversifying sales channels to the three domestic battery companies, establishing a foundation for stable growth.
The company plans to expand its business area to coating and drying systems and hydrogen fuel cell mixing systems through mixing system engineering references. It also intends to strengthen its global market position by expanding overseas markets such as China and the United States, centered on its European branch.
TSI CEO In-sik Pyo stated, “Our company will be the first listed company in the secondary battery mixing system industry,” adding, “We will advance our in-house design and manufacturing capabilities to become a global specialized company in mixing system solutions.”
Meanwhile, the number of shares to be offered is 1.85 million, with an expected offering price of 7,500 KRW to 9,500 KRW per share, totaling approximately 13.9 billion to 17.5 billion KRW. Demand forecasting will be conducted for domestic and foreign institutional investors on July 6-7, followed by subscription on July 13-14, with a planned listing on the KOSDAQ market at the end of July. Korea Investment & Securities is the lead manager.
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