[This Week's IPO] Bookbuilding and Retail Offering Schedule for the Fourth Week of October

In the fourth week of October, Optonics, Dongwon Parts, NexI, and Baropharm will conduct bookbuilding for institutional investors. Creates, T&E Korea, Intellivix, Youngkwang, EST, and Lablup are preparing for their retail offerings.

<Institutional Bookbuilding>

◆Optonics= Founded in 2004, Optonics is a specialist company that develops and manufactures optical components for gyroscopes, a key component of inertial navigation systems (INS). It is the only company in Korea that mass-produces components for both ring laser gyroscopes (RLGs) and fiber-optic gyroscopes (FOGs). Components supplied by the company are incorporated into major weapons systems, including multiple-launch rocket systems, surface-to-air guided weapons, and tanks, through the inertial navigation systems of its major clients.

The company plans to offer a total of 2.2 million shares, with an indicative price range of KRW 10,000 to KRW 12,000 per share. The expected total offering value is KRW 22 billion to KRW 26.4 billion. Bookbuilding for institutional investors is scheduled for October 21–27, followed by the retail offering on November 5–6. Korea Investment & Securities is the lead manager.

◆Dongwon Parts= Dongwon Parts supplies high-precision functional components used in semiconductor processes such as etching, deposition, and cleaning. Its main products include showerheads, chamber components, heaters, and spin chucks. It is registered as an authorized supplier to global tier-one clients, including SEMES, Lam Research, and Applied Materials.

The company plans to offer 2.03 million shares in its IPO. The indicative price range is KRW 23,000 to KRW 26,500 per share, corresponding to an expected offering value of approximately KRW 46.7 billion to KRW 53.8 billion. It will conduct institutional bookbuilding from October 22–28, followed by the retail offering on November 2–3, and plans to list on the KOSDAQ market in November. Samsung Securities is the lead manager.

◆NexI= Founded in 2021, NexI identifies novel targets involved in resistance to immuno-oncology treatments, whether patients fail to respond or develop resistance during treatment, and is developing antibody therapies. The company has built its proprietary drug pipeline based on research into the tumor microenvironment, which limits the efficacy of existing immuno-oncology drugs, and the mechanisms behind resistance to these treatments.

The company plans to offer a total of 5 million shares in the IPO, at an indicative price range of KRW 10,500 to KRW 13,000 per share, for a total offering value of KRW 52.5 billion to KRW 65 billion. Institutional bookbuilding will take place from October 22–28, followed by the retail offering on November 3–4. Korea Investment & Securities is the lead manager.

◆Baropharm= Founded in 2019 by CEO Kim Seulgi, a practicing pharmacist, Baropharm is an integrated platform for pharmacies that aims to address inefficiencies in pharmaceutical ordering and inventory management. It has built a nationwide pharmacy network with more than 90% of pharmacies in Korea signed up. Its cumulative transaction value stands at KRW 7 trillion, and its reorder rate is 86%.

The company will offer 1.78 million shares at an indicative price range of KRW 16,400 to KRW 20,200 per share. The offering is valued at approximately KRW 29.2 billion. Institutional bookbuilding will take place from October 22–28, followed by the retail offering on November 2–3. Mirae Asset Securities is the lead manager.

<Retail Offerings>

◆Creates= The indicative price range is KRW 15,000 to KRW 18,000 per share, corresponding to a total offering value of approximately KRW 21 billion to KRW 25.2 billion. Institutional bookbuilding ran through October 16. The retail offering is scheduled for October 20–21, followed by a planned KOSDAQ listing in October. Samsung Securities is the lead manager.

Founded in 2009, Creates is an AI-based integrated golf solutions company that develops everything from golf simulation software to AI-powered swing analysis services, building on its launch monitors, which measure the movement of golf balls and clubs. The company has strengthened product quality and market responsiveness by bringing key parts of its value chain in-house, including product planning, research and development, manufacturing, software and AI development and sales, and after-sales service.

◆T&E Korea= The company set its IPO price at KRW 15,300 per share, the top of its indicative range of KRW 12,600 to KRW 15,300. A total of 2,274 institutions participated in the institutional bookbuilding, which recorded a subscription ratio of 1,041.02 to 1. The retail offering is scheduled for October 20–21, with a listing planned for November. Shinhan Securities is the lead manager.

T&E Korea supplies industrial products based on its high-speed, compact turbomachinery technology and is expanding into applications such as on-site power generation for AI data centers and hydrogen power generation. It also plans to expand its business into semiconductors, aviation, defense, shipbuilding, and marine industries to strengthen its foundation for medium- to long-term growth.

◆Intellivix= The indicative price range is KRW 7,600 to KRW 9,000 per share, corresponding to an expected total offering value of KRW 19 billion to KRW 22.5 billion. Institutional bookbuilding ran through October 16, and the retail offering will take place from October 21–22. Mirae Asset Securities is the lead manager.

Intellivix has built a business in the public and industrial safety markets around GenAMS, an integrated safety AI platform combining generative AI-based vision-language models (VLMs) with vision AI. The company plans to expand its growth engines into industrial AI, defense AI, physical AI, and global markets.

◆Youngkwang= The indicative price range is KRW 14,000 to KRW 17,000 per share. The total offering value is expected to be KRW 31.6 billion to KRW 38.4 billion. Bookbuilding will continue through October 19, followed by a two-day retail offering on October 22–23. Korea Investment & Securities is the lead manager.

Founded in 1962 as Yeonggwang Machine Shop, Youngkwang has provided engineering solutions for global industrial sites, drawing on its accumulated experience and manufacturing expertise. Building on its long-standing capabilities in core manufacturing areas such as piping, steel structures, welding, assembly, and heavy-load handling, the company has gradually expanded into the production of chemical process equipment and system packages.

◆EST= The indicative price range is KRW 10,600 to KRW 12,400 per share, and the expected total offering value is approximately KRW 23.3 billion to KRW 27.3 billion. At the top of the price range, the company’s market capitalization after listing would be approximately KRW 172.5 billion. Institutional bookbuilding will continue through October 20 to set the final offering price, followed by the retail offering on October 22–23. Daishin Securities is the lead manager.

Founded in 2016, EST initially built its business on large-area electrostatic chucks for displays and has since expanded into electrostatic chucks for semiconductors. For the display industry, it has developed atmospheric plasma spray (APS) coating technology to hold large glass substrates in place without bending or slipping. For semiconductors, it has developed multilayer ceramic (MLC) and precision sintering technologies, which involve stacking multiple layers of high-purity ceramic sheets and firing them.

◆Lablup= The indicative price range is KRW 19,000 to KRW 22,000 per share. The expected offering value is approximately KRW 41.4 billion. Institutional bookbuilding will continue through October 19, followed by the retail offering on October 22–23. NH Investment & Securities is the lead manager.

Founded in 2015, Lablup specializes in AI infrastructure management and operations software that improves the utilization of high-performance computing resources, including GPUs. Its flagship product, Backend.AI, centrally manages GPUs and AI accelerators needed to develop, train, deploy, and operate AI models on a single platform, and automatically allocates the required resources to each user and task.

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