Hana Aerodynamics Submits Securities Registration Statement, Begins KOSDAQ Listing Process

Hana Aerodynamics has submitted a securities registration statement to the Financial Services Commission in preparation for a KOSDAQ listing.

According to Hana Aerodynamics on September 22, the total number of shares to be offered in the IPO is 4.4 million, with the desired offering price band set between KRW 4,700 and KRW 5,700 per share. Based on this, the total expected amount to be raised is between KRW 20.7 billion and KRW 25.8 billion. The book-building process for institutional investors is scheduled from November 2 to November 6, and the public subscription for retail investors will take place from November 10 to November 11. The lead underwriter is IBK Investment & Securities.

Established in 2007, Hana Aerodynamics is a specialized aerospace manufacturer overseeing everything from tooling design and production, to precision component machining, and assembly of airframe structures. The company supplies tooling, components, and assembly structures for commercial aircraft, military aircraft, and helicopters to domestic and overseas clients, including Korea Aerospace Industries (KAI) and Bell Helicopter.

The company’s key competitive strength is its integrated manufacturing capability, connecting tooling engineering with component and assembly production. By designing and producing production tooling in-house, the company maintains price competitiveness and high-quality standards in aircraft part manufacturing and structural assembly. Since 2024, Hana Aerodynamics has been mass-producing and exporting key structures such as the tail boom and nose of the Bell 412 helicopter. The company has also been recognized as Bell’s top supplier and KAI’s best partner, solidifying its supply capabilities.

Its operating profitability has also improved. On a standalone basis, sales in 2025 reached KRW 33.29 billion, with an operating profit of KRW 4.99 billion, resulting in an operating margin of 15.0%. For the first half of 2026, sales were KRW 20.59 billion, operating profit was KRW 4.83 billion, and the operating margin stood at 23.5%. Improved profitability was driven by stabilization of mass production in the assembly business, enhanced production efficiency, and accumulation of technical expertise due to long-term employee retention.

The funds raised from the listing will be invested in expanding production infrastructure, including the introduction of large-scale sheet metal forming equipment, heat treatment and finishing equipment, and the construction of a new factory. By internalizing subcontracted processes, the company aims to further strengthen cost, delivery, and quality competitiveness. Furthermore, plans are in place to shift toward in-house production of parts supplied to customers and to expand its supply portfolio, thereby increasing the per-unit supply value for each aircraft.

Changhwan Son, CEO of Hana Aerodynamics, stated, "Based on our manufacturing capacity that seamlessly connects tooling with components and structures, we have built trust with domestic and overseas customers. Through this listing, we will further enhance our manufacturing capabilities, diversify our customer base and product lineup, and grow into a comprehensive global aerospace manufacturer."

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