Leading South Korean manufacturer of automated printed circuit board (PCB) equipment, Taesung, announced on the 29th that it will raise 96 billion KRW (CNY 500 million) through a rights offering, with the newly issued shares to be offered via public subscription.

The company plans to issue 4.55 million common shares at a price of 21,100 KRW per share, representing a 17.6% increase in its total share count. The underwriting will be handled by iM Securities, with the record date set for January 6, 2025, and the new shares expected to be listed around March of next year.

The raised funds will primarily be used for expanding existing PCB production lines, along with establishing new manufacturing lines for secondary battery materials and semiconductor glass substrates. These investments are aimed at securing funds for both operational and facility expansions.

Taesung emphasized that the capital increase is in line with its strategy to capitalize on the growth potential of the secondary battery materials and semiconductor glass substrate markets, both of which are emerging as key business areas. The company plans to expand its factory capacity to enhance its competitiveness in securing orders, as it is already preparing for the mass production and testing of next-generation equipment with domestic and international clients.

A company representative stated, “This capital increase will allow us to build the urgently needed production lines for composite copper foil and glass substrate equipment.”

Taesung is currently the leading manufacturer of PCB automation equipment in South Korea, with proprietary technology in wet-process equipment for plating, cleaning, and drying PCB substrates. This year, it became the first company in the country to develop and unveil composite copper foil and glass substrate etching equipment.