T&L Submits Securities Registration Statement... Begins KOSDAQ Listing Process

Specialized High-Function Medical Material Company Develops Korea's First Hydrocolloid-Based Moist Wound Dressing
Establishes Overseas Bases and Expands Trouble Care Market, Secures New Growth Engines with Three New Products
Demand Forecast on October 22-23, Subscription on 27-28, Scheduled for Listing in Early November

[Asia Economy Reporter Eunmo Koo] T&L, a specialized company in high-functional medical materials, announced on the 24th that it has submitted a securities registration statement to the Financial Services Commission and officially entered the public offering process.

The total number of shares to be offered is 800,000, with an expected offering price of 34,000 to 38,000 KRW per share, amounting to a total offering size of approximately 27.2 to 30.4 billion KRW. The company plans to conduct demand forecasting on November 22-23 and subscription on November 27-28, aiming to be listed on the KOSDAQ market in early November. Korea Investment & Securities is the lead underwriter for the listing.

Founded in 1998, T&L is a company that manufactures medical materials based on high-functional material technology. Its flagship product, wound dressings, is a moist dressing that complements the shortcomings of conventional dry dressings, creating a moist environment that aids wound healing and is highly regarded for its excellent healing effects.

The company was the first in Korea to develop hydrocolloid, the most in-demand material among various wound dressing materials. Additionally, by establishing a total solution capable of handling everything from raw material planning to finished product sales independently, T&L not only manufactures products optimized for market demand but also secures high cost competitiveness.

In fact, T&L is the only company in Korea that has a full line of wound dressings made from various materials and for various purposes, including hydrocolloid, foam, hydrogel, silicone, and alginate. Based on this, it supplies products to over 50 domestic and international companies such as JW Pharmaceutical, Daewoong Pharmaceutical, and Germany’s Lohmann & Rauscher.

Last year’s business performance recorded sales of 32.7 billion KRW and operating profit of 7.7 billion KRW, representing increases of 24.1% and 40.8% respectively compared to the previous year. Notably, the operating profit margin remained high at 23.7%, maintaining a strong profitability above 20% for three consecutive years. In the first half of 2020, sales were 18.3 billion KRW with an operating profit of 4.4 billion KRW, resulting in an operating profit margin of 24.0%.

After listing, the company plans to establish local bases in major overseas markets such as the United States, China, and Europe to expand its global business. It also intends to actively enter the growing trouble care patch market based on its wound dressing technology. Furthermore, T&L plans to secure new growth engines through the development of new products including ▲ internal and external hemostatic agents ▲ smart patches ▲ microneedle patches.

Choi Yoon-so, CEO of T&L, stated, “T&L is a research-centered company that aims to continuously advance technology through relentless research and develop products that contribute to improving human quality of life. Based on our core technology of high-functional materials, we will diversify high value-added businesses to achieve stable and sustainable growth.”