OLED equipment maker Shindo ENG Lab has vowed to expand in the Chinese OLED market as it gears up for its initial public offering (IPO) on KOSDAQ next month.
CEO Woung-ki Park said the company had unrivaled technologies in banding equipment and dispensers for OLED production, at a press conference in Yeouido, Seoul on Thursday.
The company will clinch new clients after its IPO and find new growth in hydrogen cells and vacuum glasses, Park added.
Shindo was established in 2000 and focuses on equipment used in Liquid Crystal Display (LCD) and OLED production. It’s mainstays so far has been laminating and autoclave equipment.
The company developed a vacuum banding equipment in 2008 that reduced formation of bubbles and more versatile in the materials it can handle compared to rolling banding equipment.
Shindo developed its own curved vacuum banding equipment in response to the rise of flexible and foldable display panels. It has vacuum banding equipment for rigid OLED and LCD panels, double and quadruple sided flexible OLED as well as foldable OLED panels.
Its equipment has what it calls silicone jig technology that can put uniform pressure on the edges of the flexible panels. It also has a diaphragm technology hat can attach films uniformly on the flexible panels.
The equipment are used by Samsung Display for its flexible and foldable OLED production.
Shindo is also supplying them to Chinese display giants BOE and CSOT as well as Tianma and Visionox.
The South Korean equipment vendor said it was seeing large growth in China and will focus on the market there going forward.
Shindo’s dispensers also used a “single leaf” method for its dispensers that handle panel by panel that also has high adhesion, the company said.
The firm has also developed a membrane electrode assembly equipment and is supplying them to hydrogen cell makers, it said. It was also currently developing a vacuum glass production equipment.
It is offering 1.3 million stocks and aiming for a value of 14,000 won to 16,000 won per stock. Price will be finalized between June 22 to 23. General subscription will last from June 25 to 26. Shindo is aiming to be listed on KOSDAQ the following month, in July.
It is aiming to secure 20.8 billion won in the offering. It is working with Korea Investment & Securities.