Contec, IPO Price Set at 22,500 Won

Contack, a startup specializing in the space sector, has set its public offering price at 22,500 KRW.

Contack announced on the 30th that the demand forecast for institutional investors recorded a competition rate of 198.92 to 1.

During the five-day demand forecast conducted from the 20th, 95.01% of institutional investors who proposed prices offered prices at or above the upper limit of the public offering price range, 22,500 KRW.

A representative from Daishin Securities, the lead underwriter, said, "It seems that Contack's business model growth potential, as well as the fact that it is currently generating significant sales, have been recognized."

Contack has set a target of 70.4 billion KRW in sales and an operating profit margin of around 27% for 2025. After listing, it plans to start next-generation ground station solution services based on laser technology alongside its very low Earth orbit (VLEO) satellite constellation business.

Contack CEO Lee Seong-hee said, "We will achieve continuous growth through business advancement and new ventures."