Pims, which produces masks used in organic light emitting diode (OLED) production, has set its share offering price at 19,000 won, the company said on Monday.
The company commenced its forecast on September 2 to September 3. Around 1.53 million shares, or 76.5% shares on offer, were booked by 1,332 institutional investors.
Pims will secure 38 billion won from its initial public offering. The company said it will use the funds to invest in facilities.
It is aiming to increase its production capacity by 50% to 80% next year. Pims was in the process of setting up a subsidiary in Chengdu, China. It was also considering doing so at Wuhan as well.
Pims will push its F-mask and S-mask, which are its current mainstays, further after the IPO, the company said.
F-mask combines three sticks and it will significantly increase yield rate in OLED panel production, Pims said. Clients tended to continue using F-mask once they adopted it to their production, the company added.
S-mask uses slight etching technology that reduces shadow areas when the organic material is deposited. This also increases yield rate of OLED production.
S-mask accounted for 15.08% of the company’s sales in 2018 but this jumped to 38.73% in 2019, Pims said.
Retail order for the shares will last from September 9 to September 10. Around 400,000 shares, or 20% of the total, will be offered to regular investors.
DB Financial Investment is underwriting the deal. The IPO date is September 18.
