T&E Korea sets IPO price at band top, raising $27.4M
What's the deal? T&E KoreaDealroom has a profile for this one. Try Dealroom →, a maker of high-speed turbomachinery, has set its IPO price at US$12.8 per share — the top of its US$10.6–US$12.8 range. The offering raises roughly US$30.8M through 2.4 million new shares, implying a market capitalisation near US$145.6M.
Why now? The company cited rising power demand across high-growth industries, including AI data centres. It is extending its high-speed, compact turbomachinery technology into new markets such as on-site power generation and hydrogen power.
What's the endgame? T&E Korea plans to use the proceeds to expand a second factory and automate production, add air-blower and hydrogen-recirculation blower lines, fund research on next-generation products like hydrogen-vehicle air compressors, and hire production staff.
Chief executive officer Park Ki-chul said the listing would strengthen the firm's capacity to serve growth markets and help it "become a global turbomachinery specialist" (translated from Korean).
The numbers: Demand was strong. In bookbuilding held October 7 to 14, 2,274 institutions took part at a subscription ratio of 1,041 to 1, with 99.87% bidding at or above the top of the price band. Retail subscription runs October 20 to 21.
The signal: The offering reflects investor appetite for suppliers tied to AI-driven power demand. Lead underwriter Shinhan InvestmentDealroom has a profile for this one. Try Dealroom → said the firm's existing industrial business and its "growth potential in new markets" drew institutional interest.
Read more: edaily.co.kr
Image credit: Generated with Gemini
