[Asia Economy Reporter Hyunseok Yoo] A-Route, the largest shareholder of ‘Woojinkijeon,’ has selected an underwriting firm and officially started preparations for listing, aiming for an initial public offering (IPO) in 2023.
Woojinkijeon, a special power equipment engineering solutions company (CEO Changik Jang), announced on the 25th that it has selected ‘NH Investment & Securities’ and ‘IBK Investment & Securities’ as the lead underwriters for its IPO.
Founded in 1984, Woojinkijeon is an industrial power equipment platform company that provides engineering services including distribution, research and development, installation, commissioning, operation, and maintenance for over 30,000 items across four fields: power quality, power systems, power equipment, and renewable energy.
With the big cycle of front-end industries such as semiconductors and displays expanding infrastructure investment, Woojinkijeon is setting record-high order achievements in its power quality solutions business. Moreover, as renewable energy solutions gain prominence amid the global decarbonization trend, the overall business portfolio continues to show favorable momentum.
Changik Jang, CEO of Woojinkijeon, said, “This year, Woojinkijeon’s order amount is expected to reach an all-time high due to large-scale contracts in power quality solutions and renewable energy solutions. I believe this is possible because of our 40 years of experience, know-how, and technological capabilities.”
He added, “Considering the expansion of investments in front-end industries and the global trend of carbon neutrality, the internal and external business environment is favorable. We judged that it is desirable to proceed with the IPO while the overall business growth continues. Woojinkijeon, which has been preparing to enter the future energy market, plans to accelerate the expansion of its business portfolio as a future growth engine through the IPO.”
Meanwhile, A-Route holds 62.68% of the shares of ‘Woojin Holdings.’ Woojin Holdings owns 100% of Woojinkijeon’s shares, securing A-Route’s position as the largest shareholder of Woojinkijeon.
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