Sunic Systems of Korea is going through an IPO on the Kosdaq stock exchange on 21st September and will use the funds generated (estimated at $61 million to $73 million) to fund development of its OLED deposition equipment, which has already been supplied for the E5 production line of LG Display. The company’s sales grew from $25.7 million in 2015 to $128 million in 2016, with first half sales of 2017 at $65 million. Profit was $20.8 million in 2016 and $9.26 million in the first half of this year.
Other customers of the firm include Ever Display (EDO), CSOT, WiseChip and Apple and 72% of its sales so far in 2017 have been exported.
The company is developing equipment for G6 OLEDs.
Analyst Comment
Sunic is competing with Canon Tokki which has dominated the OLED deposition equipment supply business, but is unable to meet the full demand of those that want to be able to build new fabs. (BR)
Park Jae-kyu, chairman of Sunic
