Kistron, the only domestic manufacturer of Cu (copper)/Fe (iron) bimetal wire, led by CEO Jung Minho, announced on May 21 that it had finalized its IPO price at 3,600 KRW, the upper end of the desired price band, following a book-building process for institutional investors held from May 12 to May 16.
Based on the finalized IPO price, Kistron will accept public subscriptions from general investors through its underwriter, Shinhan Investment Corp., for two days on May 22 and 23. A total of 2,311 institutional investors participated in Kistron's book-building process, resulting in a high competition ratio of 1,140.95 to 1, marking a successful IPO. The company is scheduled to be listed on June 2.
Kistron, an affiliate of the Korea Steel Group established in 1992, has built a stable cash-cow business and is gaining attention in the global market. Its lead wire holds approximately 18% of the global market share, and its cable wire is recognized for its quality in advanced countries such as the United States and Europe, where sales account for 33.3% of total revenue.
As a result, Kistron's global export ratio stands at about 90%, supplying products to 74 companies in 21 countries worldwide. Among Kistron's customers, 90% make repeat purchases, and 75% of them have maintained long-term business relationships for more than three years.
Last year, Kistron achieved sales of 69 billion KRW, a 23% increase compared to the previous year. Operating profit was 5.9 billion KRW, and net profit was 8.8 billion KRW, a 267% increase from the previous year.
Kistron CEO Jung Minho stated, "I would like to express my deep gratitude to all the investors who showed great interest despite the challenging environment," adding, "The funds raised through this IPO will be used for research and development investments as well as facility investments for new businesses."
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