Beomhan Mecatec Completes 160 Billion Won Pre-IPO, Embarks on Full-Fledged IPO Journey

Successful Completion of 160 Billion Won Pre-IPO

Preliminary Listing Review Planned for Second Half of the Year

Aiming for a Valuation Exceeding 1.5 Trillion Won

Beomhan Mecatec has successfully completed a pre-IPO (pre-initial public offering) equity investment worth 160 billion won, marking a significant step toward its IPO.

According to the investment banking industry, the pre-IPO process was finalized on May 28, when the investment funds were fully paid in.

It is reported that there was fierce competition among institutional investors to secure shares until the very end, reflecting their high evaluation of the company’s growth potential.

Established in 1964, Beomhan Mecatec has maintained rapid growth since joining Beomhan Group in 2022 after previously being part of Doosan Group.

The company’s revenue nearly doubled in just two years, rising from 276.1 billion won in 2022 to 550.2 billion won in 2024.

Alongside its core business, Beomhan Mecatec is expanding into key new sectors for the energy transition era, such as Small Modular Reactors (SMR), Carbon Capture, Utilization, and Storage (CCUS), combined cycle power generation turbines, and Heat Recovery Steam Generators (HRSG). This is strengthening its foundation for mid- to long-term growth.

Building on this capital raise, Beomhan Mecatec plans to submit a preliminary listing review to the Korea Exchange in the second half of this year, working with its IPO lead managers NH Investment & Securities and Eugene Investment & Securities.

The company posted a net loss last year due to one-off expenses, but showed signs of recovery in the first quarter of this year, achieving 120 billion won in sales and over 20 billion won in EBITDA (earnings before interest, taxes, depreciation, and amortization). This performance is attributed to the robust energy equipment business and the growth of its Vietnamese subsidiary BVHI’s HRSG operations.

BVHI is expanding its presence in the global combined cycle power generation market, including signing a long-term supply contract with GE, a global leader in the HRSG sector.

Based on this growth, Beomhan Mecatec is expected to secure more than 400 billion won in new orders in the first half of this year alone, and there is speculation that the company could achieve its highest-ever performance since its founding.

The investment industry forecasts that if Beomhan Mecatec’s new business initiatives, which have been in preparation for years, start yielding tangible results, the company’s valuation at IPO could exceed 1.5 trillion won.

In particular, in the SMR sector, the company’s collaborative network with global nuclear equipment firms gives it a strong chance to secure a leading position in the rapidly expanding international market.

Additionally, in the large-scale nuclear and combined cycle power plant equipment markets, which have high barriers to entry, Beomhan Mecatec is engaging in order negotiations with global clients, securing further growth drivers.

Having earned the market’s trust through a successful pre-IPO, Beomhan Mecatec is now regarded as one of the most promising candidates in the Korean IPO market this year, thanks to its robust performance and future growth potential.

Meanwhile, as the energy transition and the renaissance of the nuclear industry become global industrial trends, market attention is focused on whether Beomhan Mecatec can evolve beyond a traditional plant equipment company to emerge as a next-generation energy solutions provider.

With its entry into core value chains of the future energy sector, such as SMR and CCUS, Beomhan Mecatec’s IPO demonstrates its potential to become a leading growth company in the global energy market.

This content was produced with the assistance of AI translation services.