SK IE Technology will go public, parent company SK Innovation said Tuesday.
The company is a wholly owned subsidiary of SK Innovation and makes separators for lithium-ion batteries. It was formed in April last year after separating from SK Innovation.
SK Innovation has sent request for proposals to global and local security firms to underwrite the IPO, it said, and will nominate one on July.
The precise date for the public offering is yet to be set, a company spokesperson said.
SK IE Technology expanded its factory at Jeungpyeong to produce 530 million meter-square of separators per year from the previous 360 million meter-square.
It plans to expand its factories in China and Poland to increase production rate to 1.21 billion meter-square of separators per year.
The company also produces flexible cover windows, or plastic covers for flexible display. It can produce materials, polyimide films, and coat them.