[THE INVESTOR] Jangwon Tech, a Korean die casting company, will go public on the tech-heavy KOSDAQ in July, the firm’s chief executive said on June 30.
The company plans to use the funds from the initial public offering to “expand its production facilities and diversify product portfolio,” said Park Sae-hyuk, CEO of the firm in a press conference held in Seoul.
The company is expected to offer 1.5 million shares to the public against the total issue size of 6,045,000 shares at a tentative price range of between 15,000 won (US$13.09) and 17,500 won apiece.
Established in 2000, Jangwon Tech produces internal and external parts of IT devices such as smartphones, laptop computers and tablet PCs by using lightweight metal like magnesium and aluminum.
“We plan to expand investment in new business sectors such as development of materials for cars and medical equipment,” Park said.
Jangwon Tech will get listed on the Seoul bourse on July 15 and the IPO will be open for subscription for two days, starting July 7.
The firm posted 202.5 billion won in sales and 26 billion won in operating profit in 2015. Smartphone parts, the firm’s flagship product, accounted for 88 percent of its total sale.
By Park Han-na (
hnpark@heraldcorp.com)