J.O Attracts 930 Billion Won in Subscription Deposits for Public Offering

[Asia Economy Reporter Hyungsoo Park] Carbon nanotube company J-O recorded a subscription competition rate of 142.47 to 1 in its public offering.

J-O announced on the 8th that it received deposits totaling 926.1 billion KRW as a result of conducting a public subscription for two days from the 7th to the 8th.

Kang Deukju, CEO of J-O, said, "After listing, we will lead the carbon nanotube (CNT) market and continuously increase corporate value," adding, "We will also strive to implement active shareholder-friendly policies to enhance shareholder value."

J-O will be listed on the KOSDAQ market on the 16th. The lead underwriter is Korea Investment & Securities.

J-O succeeded in mass-producing carbon nanotubes domestically for the first time in 2006. It possesses proprietary production technology that can control diameter, length, shape, and other factors that determine the quality of the material. At the end of last year, it expanded its factory to produce 1,000 tons annually. It plans to establish production facilities capable of 5,000 tons annually by 2025.

Aside from J-O, LG Chem is the only company in Korea producing carbon nanotubes for secondary battery conductive materials. J-O expects the domestic market for carbon nanotubes used in secondary battery conductive materials to solidify into a duopoly. J-O plans to respond to the rapidly increasing demand for carbon nanotubes for secondary battery conductive materials through continuous research and development (R&D) to improve quality and expand production capacity.