Battery electrode slot die equipment maker GI Tech is aiming to list on KOSDAQ on October 21.
The company will be offering 2.7 million shares for sales. It is asking for a price between 11,500 won to 13,100 won per share. Mirae Asset Securities is underwriting the deal. It is seeking up to 35.4 billion won in funding from the IPO.
GI Tech was founded in 1990 and manufactures slot die machines used in battery and hydrogen fuel-cell production as well as slit nozzles used to deposit chemicals such as photoresist during display production.
Slot die machines are used to coat materials on the foil that are used as substrates for battery electrodes.
GI Tech has SK Innovation, LG Energy Solution, Northvolt and Samsung Display as customers for its equipment.
The equipment maker said it will expand abroad by building production facilities in the US and Europe after it goes public.
Its main growth engine will be hydrogen fuel-cell batteries, GI Tech said.
It will also expand into multi-layer ceramic capacitor coating, healthcare and chips, it added.