Printed circuit board (PCB) maker TLB is aiming to be listed on KOSDAQ.
The company split-off from Daeduck Electronics back in 2011. It was originally the thin lamination board business of Daeduck.
It has turned in its security report to financial authorities on Monday. Its IPO is expected next month.
TLB makes module PCB used as memory semiconductor substrates. It offers module PCB for memory and solid-state drives (SSD), each contributing half of its sales.
Its rivals include Korea Circuit and Simmtech.
TLB’s customers include SK Hynix, Samsung Electronics and Micron.
SK Hynix launched its DDR5 DRAM last month. TLB is aiming to use the funds from the IPO to build a module PCB line for DDR5 memory. Its memory module PCB was focused on DDR4 before.
DDR4 PCB has line widths of 55, 58, 71 and 75 micrometers, wider than the 15 micrometers line width of boards for smartphone application processor.
Eight out of the eleven executives at TLB previously worked at Daeduck Electronics. TLB CEO and President Baek Seong-hyeon worked at Daeduck from 1984 to 2011.
TLB posted operating income of 11.1 billion won and sales of 149.1 billion won last year, a jump of 40% and 22.1%, respectively, from 2018. The company is expected to post sales of 180 billion won this year. This is thanks to increased demand for memory from data centers and remote services due to the COVID-19 pandemic.
TLB will offer a million shares in the IPO __ it is seeking price per share of between 33,200 won and 38,000 won. It is expected to raise between 33.2 billion won to 38 billion won. It will commence demand forecast for institutional investors from November 30 to December 1. Retail orders will run from December 3 to 4. CEO Baek owns 24.55% stake. The company is based in Ansan.