ISTE enhances corporate clientele ahead of Kosdaq listing
The customer is an outsourced semiconductor assembly and test company with its headquarters based in the US, ISTE explained.
According to the company, the latest deal shows how the company has been responding to new demand from customers and was able to expand its customer range, strengthening its presence in the chip industry.
Meanwhile, ISTE is set to go public on the tech-laden bourse Kosdaq 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 ($582 million) 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 product, the Front Opening Unified Pod cleaner, would generate 34.8 billion won in sales this year, marking a 168 percent on-year growth.
ISTE provides chip cleaning equipment to 13 companies in and out of Korea, including big names such as SK hynix, Samsung Electronics and SK Siltron.
'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.'
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