AI Korea Secures KRW 7 Billion in Pre-IPO Investment
Published2022.01.14 13:48AI Korea announced on the 11th that it has completed attracting pre-IPO equity investment worth approximately 7 billion won.
The company is aiming to list on the KOSDAQ market in the second half of this year, and the lead manager is Korea Investment & Securities.
The company specializes in the construction of electrolyte supply system (CESS) equipment and facilities for three domestic secondary battery companies.
This pre-IPO round was participated by existing investors such as Timefolio Asset Management, Intervalue Partners, APL Partners, and Korea Investment & Securities.
With this investment, AI Korea plans to accelerate its research and development efforts and investment in local facilities in Europe to transform itself into a waste battery recycling company, as well as a secondary battery electrolyte supply system.
Lee Chang-ho, managing director of Intervalue Partners, said, “This investment will enable the diversification of the secondary battery business to proceed as planned.”
Meanwhile, AI Korea recently received orders worth over KRW 70 billion from the top three domestic secondary battery manufacturers (LG Energy Solution, SK on, and Samsung SDI), achieving KRW 30 billion in sales in 2021 and anticipating sales of approximately KRW 35 billion in the first half of this year.
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