LET prepares for KOSDAQ IPO

South Korean display equipment vendor Leading Edge Technology (LET) is gearing up to go public.

LET CEO Lee Hong-geun said the company will become an equipment vendor that handle front- to back-end display production, at its KOSDAQ IPO conference at Yeouido, on Thursday.

LET was formed in 2001 by ex-LG researchers and started their operation by supplying equipment for LCD modules. Currently, it offers equipment for OLED modules, for both smartphones and TVs.

Its main client is Samsung Display. LET has supplied the module equipment for the production of Fingerprint-on-Display (FoD) used in Samsung Electronics’ Galaxy S series of smartphones.

LET is hoping for a starting share price of 6,400 won to 7,800 won. It is hoping to raise up to 17.1 billion won.

Demand forecast will wrap-up by Friday. It will began taking subscriptions from investors from June 11 to 12. The company will go public on KOSDAQ on June 22. Mirae Asset Daewoo is underwriting the IPO.

LET posted operating profits of 10.9 billion won and revenues of 46.9 billion won last year. It was acquired by HB Technology, also a display equipment maker, in 2018.