Shindo sets offering price ceiling at 16,000 won

South Korean OLED equipment vendor Shindo ENG Lab has finalized its public offering share price ceiling at 16,000 won, the company said Wednesday.

Korea Investment & Securities, who is underwriting the public offering, said 1381 institute partook in the demand forecast for 1.04 million shares, or 80% of the total 1.3 million shares offered. 

Shindo CEO Woung-ki Park thanked the high interest in its demand forecast and vowed to expand its competence in the Chinese OLED market.

The registration for the remaining 260,000 shares for its IPO will commence in Thursday, ending in Friday. Shindo is hoping to be listed on KOSDAQ on July 6.

Shindo is aiming to secure 20.8 billion won in its public offering. It will use the funds to expand its production capacity as well as research and development, the company said.

Shindo was established in 2000 and focuses on equipment used in Liquid Crystal Display (LCD) and OLED production. It’s mainstays so far has been laminating and autoclave equipment. It aims to expand export of its 3D laminating equipment abroad, while also find new growths in hydrogen cells and vacuum glasses