[IPO Spotlight] 'Electric Vehicle-Related Stock' YM Tech Plans KOSDAQ Listing Within the Year

[Asia Economy Reporter Park So-yeon] YM Tech, an unlisted electric vehicle-related stock, is set to list on the KOSDAQ within this year.

According to the financial investment industry on the 31st, YM Tech recently received an A grade in a comprehensive technology evaluation, including the completeness of technology and growth potential, from Korea Enterprise Data, a corporate credit rating specialist.

YM Tech plans to file a preliminary listing review with the Korea Exchange in April and aims to be listed within the third quarter of this year. The lead underwriter is KB Securities, and the public offering amount is expected to be set between 120 billion and 150 billion KRW.

According to Seoul Exchange Unlisted, an unlisted stock trading platform, YM Tech's over-the-counter trading price on the day was 33,500 KRW per share. Considering the total number of issued shares, the estimated market capitalization reaches 159 billion KRW.

Classified as an "electric vehicle stock," YM Tech attracted global attention by developing a relay that can be connected anywhere regardless of polarity even under high-voltage direct current. A relay is a device that controls the opening and closing of electrical circuits. It is widely used not only in electric vehicles but also in chargers, energy storage systems, solar power, wind power, military weapons, and aircraft.

YM Tech has been researching high-voltage circuit breaker technology by miniaturizing and lightening DC circuit breakers. Unlike alternating current (AC), direct current (DC) electricity continues to flow through the air even when the switch is disconnected, making switching very difficult, and developing high-voltage DC relays is a challenging field.

YM Tech secured independent technology by becoming the world's first to develop a high-voltage bidirectional relay capable of connecting anywhere without polarity at DC 1500V level, and has LG Chem, Samsung SDI, and others as clients. It is targeting global markets including China, Europe, and the United States by securing global competitiveness.

As of the end of 2019 based on the audit report, the largest shareholder is CEO Kim Hong-gi, holding 46.91% (2,226,096 shares). The second largest shareholder is Kim Jong-o, holding 14.27% (677,072 shares).

Sales over the past three years have been recorded at around 12 billion to 17 billion KRW. Operating profit ranges from 1 billion to 5 billion KRW. As of the end of 2019, the debt ratio was 9.75%, and the current ratio was 748%.