HPSP Attracts 10.9 Trillion Won in IPO Subscription

[Asia Economy Reporter Hyungsoo Park] HPSP, a leading company in semiconductor high-pressure hydrogen annealing process technology, conducted a public offering subscription for general investors on the 6th and 7th, recording a competition rate of 1159.05 to 1.

Kim Yong-woon, CEO of HPSP, stated, "After listing on KOSDAQ, we will strive to enhance shareholder value through transparent and responsible management activities," and added, "Based on semiconductor high-pressure hydrogen annealing technology, we will lead the market through continuous technological development in the semiconductor front-end equipment sector.”

The general public subscription targeted 750,000 shares, which is 25% of the total public offering volume, allocated equally between the equal allocation method and the proportional allocation method at 50% each. A total of 869,290,480 shares were applied for. Approximately 10.8661 trillion KRW was gathered as deposit money.

In the demand forecast, a total of 1,577 institutions participated, recording a competition rate of 1511.36 to 1. The public offering price was set at 25,000 KRW, the upper limit of the desired price band.

HPSP possesses the world’s only high-pressure hydrogen annealing equipment ‘GENI Series’ used in the annealing process among semiconductor front-end processes. It is essential for advanced processes below 16nm, which require high technology intensity and precision. Since its application has expanded from system semiconductors to memory semiconductors, demand is expected to continue increasing.

Among the raised public offering funds, 23 billion KRW will be used for research and development expenses and facility funds. Investments will be made in the development and advancement of high-pressure wet oxidation process technology, development of new gas processes, and the advancement of customized high-pressure annealing equipment applied to autonomous driving vehicle driver assistance systems (ADAS) and CMOS Image Sensors (CIS).