Isak Engineering, IPO Price Set at 11,500 KRW

[Asia Economy Reporter Park Hyungsoo] Smart factory specialist company Isak Engineering announced on the 9th that it has set the public offering price at 11,500 KRW.

During the two-day institutional investor demand forecast conducted from the 6th, Isak Engineering's public offering recorded a competition rate of 1,427.15 to 1. A total of 2,190,680,000 shares were attracted to raise 1,535,000 shares, which is 73.1% of the total public offering volume.

The total funds to be raised through the public offering, which was conducted entirely by issuing new shares, amount to 24.2 billion KRW. The public offering funds will mainly be used after listing for ▲securing personnel to advance smart factory element technologies ▲facility investment for automation of control panel production ▲research and development investment for various solution developments.

Founded in 2007, Isak Engineering is an engineering specialist company providing solutions that cover all stages of smart factories. Based on an understanding of industry-specific processes and engineering capabilities, it has been supplying stable industrial automation solutions for a long time. It laid its business foundation in steel automation systems, expanded through semiconductor and plant business sectors, and recently extended its business area to electric vehicle secondary battery automation solutions. Representative clients include SK Hynix, Hyundai Steel, and POSCO.

Kim Changsoo, CEO of Isak Engineering, said, "It seems that the smart factory market growth trend, the expectation of benefits from the front-end market, and the technological capabilities that have solidified our leading position in the industry received good evaluations from institutional investors," adding, "We also ask for a lot of interest from investors in the general public subscription."

Isak Engineering's general investor subscription will be held for two days from the 12th to the 13th. The company is scheduled to be listed on the 21st, with Shinhan Financial Investment as the lead underwriter.