Secondary battery tech companies Jeil M&S, MinTech prepare for IPO

2024.04.12 09:31:02 | 2024.04.12 09:41:09

[Courtesy of each company]이미지 확대

[Courtesy of each company]

Two key players in the South Korean secondary battery sector are seeking to go public this year, with hopes to raise capital to expand into global markets.

Jeil M&S Co., a company specializing in battery mixing machines, and MinTech Co., a provider of battery diagnosis solutions, each held a press conference in Seoul on Thursday ahead of their initial public offerings.

Established in 1981, Jeil M&S ranks among the top three battery mixing equipment companies in Korea. With over 40 years of accumulated technological expertise and experience, the company is aiming to expand its business areas from the food and pharmaceutical sectors to secondary batteries, defense, and chemicals.

In particular, it aims to become a leading player in the mixing equipment sector across the energy industry.

The company‘s plan involves securing global automotive manufacturers pursuing battery self-production as their customers, seeking customer diversification, and aiming for global market dominance.

“We will position ourselves as a leading mixing equipment provider with advanced mixing design technology,” said Jeil M&S Chief Executive Officer Lee Young-jin.

MinTech, founded in 2015, is an innovative solution provider specializing in battery and energy storage system (ESS) inspection and diagnosis.

“We plan to invest all of the funds raised through the Kosdaq listing into facility and equipment investments,” said MinTech CEO Hong Young-jin.

Jeil M&S is holding a bookbuilding session until Friday. Public subscription is set for April 18 and 19, with a listing scheduled for April 30.

MinTech will begin its bookbuilding session on Friday and receive public subscriptions on April 23 and 24 before listing on May 2.

KB Securities Co. is the manager for both listings.

By Oh Dae-seok and Chang Iou-chung

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