Chip manufacturing equipment supplier ISTE announced Monday it has expanded its client base with a new deal, ahead of its Kosdaq market debut slated for Wednesday.
ISTE specializes in cleaning equipment for wafer carriers and supplies its products to chip giants such as SK hynix, Samsung Electronics and SK Siltron.
According to the announcement, ISTE secured a deal to provide its product to an outsourced semiconductor assembly and test company with headquarters in the US.
The latest deal shows how the company has responded to new demand from customers, and was able to expand its customer range to strengthen its presence in the chip industry, the company explained.
Meanwhile, ISTE is set to go public on the country's secondary tech-laden bourse Kosdaq at the price of 11,400 won ($7.85) per share on Wednesday.
Around 2,074 domestic and international institutions participated in the book building last month, leading to a competitive bid ratio of 1,148-to-1. For retail investors, the ratio stood at 455-to-1. The company attracted 844.4 billion won in subscription deposits.
In its securities registration statement, ISTE projected to post 70.6 billion won in sales this year and log 10.5 billion won in operating profit. It further suggested its key cleaner product would generate 34.8 billion won in sales this year, marking a 168 percent on-year growth.
Last year, the company posted 41.5 billion in estimated sales and 1.1 billion won in operating profit.
“Visiting the CES trade show held in Las Vegas last month, the HBM (high-bandwidth memory) market is likely to continue expansion, and the market for semiconductor glass substrate is projected to show sharp growth, fostering a favorable environment for the company products,” ISTE CEO Cho Chang-hyun said through a press release.
“We will continue to expand business to boost shareholder return and communicate with investors following the listing.”
By Im Eun-byel (silverstar@heraldcorp.com)
