EST is entering the public offering market through an initial public offering (IPO). The company, which specializes in electrostatic chucks (ESC) installed in semiconductor and display production equipment, finalized its offer price at 12,400 won after the institutional investor demand forecasting process, recording a competition ratio of 630.1 to 1.

The hoped-for price band ranged from 10,600 won to 12,400 won, with the final offering price set at the top of the range. A total of 2.2 million shares will be offered, and the total offering size at the confirmed price is 27.28 billion won (approximately 27.3 billion won).

The volume allocated to general investors is between 550,000 and 660,000 shares out of the total offered shares, and Daishin Securities will handle retail subscription operations. As of 10:32 a.m. on the 22nd, the number of shares for equal allocation per general investor subscription was tallied at 41.86 shares, with the equal allocation quantity also shown as 102.00 shares.

■ Founded in 2016... Concurrently Engaged in New ESC Production and Refurbishment

EST, founded in 2016, has developed its business centered on electrostatic chucks. It not only designs, manufactures, and supplies new products, but also conducts a refurbishment business that allows existing products to be reused.

An electrostatic chuck is a device that fixes semiconductor wafers or display substrates in specific positions using electrostatic force. It serves to suppress substrate movement in manufacturing processes where even minute errors affect product quality.

In semiconductor production equipment, it is important that wafers remain in designated positions during processing. If a substrate moves or the temperature distribution becomes non-uniform, it can affect manufacturing outcomes. The electrostatic chuck plays a role in fixing the substrate while also being involved in temperature control, helping maintain the conditions required during the production process consistently. Due to these characteristics, it is regarded as a key component of precision manufacturing equipment.

Similar functions are required in display manufacturing as well. The stability of the process can only be secured by maintaining the position and flatness of the substrate, and temperature conditions are also among the factors that determine product quality. The electrostatic chucks supplied by EST are components used in these manufacturing environments, and the semiconductor and display industries are the company's main business targets.

A notable aspect of its business structure is that it operates both new electrostatic chuck production and refurbishment. While developing, manufacturing, and selling new electrostatic chucks, it also conducts a business of refurbishing previously used products, so its business is not limited solely to the supply stage. Electrostatic chucks are classified as consumable components installed in semiconductor and display manufacturing equipment, and EST includes both the production and refurbishment of these components in its business domain.

As semiconductor and display manufacturing technologies become more sophisticated, higher levels of precision are required for the components applied to production equipment. The function of stably holding substrates and the ability to manage process temperatures are factors linked to manufacturing quality. EST operates a business developing and supplying products needed for such manufacturing processes based on its electrostatic chuck technologies.

■ High Competition Ratio and Top-of-Range Offer Price Do Not Guarantee Stock Performance

The key figures confirmed in this IPO are the institutional investor competition ratio of 630.1 to 1 and the confirmed offer price of 12,400 won. The fact that the offer price was set at the top of the hoped-for range is a point worth noting when examining the demand forecast results.

However, the demand forecast competition ratio and the offer price decision do not guarantee a rise in the stock price after listing. The competition ratio of institutional investors' participation and the stock price formed in the actual listed market are separate indicators. EST's post-listing stock price may also fluctuate depending on supply and demand formed during trading and market conditions, and the confirmation at the top of the hoped-for price range and future investment performance should be judged separately.

[This article is intended to provide information for investment reference and does not recommend buying or selling specific stocks. Conditions may vary depending on market circumstances. Investment decisions and the responsibility arising from them rest with the investor. AI provided some assistance.]