After being listed seven years on KONEX, supercapacitor maker Vinatech is aiming switch to KOSDAQ.
The company said it plans to list on KOSDAQ in September this year on Thursday.
Supercapacitor accounts for 90% of the firm’s sales. Supercapacitor is a device that stores electric energy, like capacitors, but store more and deliver charge even faster. It is used mostly as a secondary power source when the main power is cut off. It has various industrial use while also being used in automobiles and home appliances. It is usually applied to black boxes and safety devices on cars, solid-state drives and smart meters, among other applications.
The COVID-19 pandemic increased demand for supercapacitors from servers as it is needed for back-up drives. Vinatech said it suffered from no contraction in demand during the outbreak and the company has technology in carbon that allows it to make custom supercapacitors for various customer needs.
The company was also seeing demand rise from the auto-component sector, it said. Vinatech was supplying its goods to an unnamed German company for safety device that allows airbags to work even in parking mode.
It was the world’s largest vendor of supercapacitors under 1000F. It developed the world’s first supercapacitor with a capacity of 3V back in 2010, Vinatech said.
Besides supercapacitors, it was also entering the fuel cell sector. It was producing membrane electrode assembly (MEA) as well as the catalyst and catalyst support used in fuel cells, and the company delivers them together to automobile-making clients. MEA is a core component that handles output in a fuel cell system.
Vinatech said MEA’s reliability comes from the catalyst support and the company’s was being reviewed well by companies abroad. It had no competition in catalyst support but had two rivals in catalysts. South Korean auto-component giant Hyundai Mobis was using another vendor for the same goods.
Vinatech is also currently part of four national fuel cell projects.
The company plans to list between 4.7533 million shares to 5.2533 million shares. 500,000 shares to 700,000 shares of them will be offered publicly. The company will commence a demand forecast in the fourth week of August and start registration in the first week of September. It is aiming to be listed on KOSDAQ on the second week of September. Daishin Securities was underwriting the listing.
Vinatech was founded in 1999 and based in Jeonju, North Jeolla Province. In 2018, it completed a factory Bac Ninh, Vietnam, which accounts for 40% of its total production output. Last year, it posted operating profits of 6 billion won and sales of 42.7 billion won, a rise of 68% and 34%, respectively.