Ateco尋求透過技術特例IPO登陸Kosdaq

Ateco’s AD32 series memory module test handler. (Photo: Ateco)

Ateco, a manufacturer of back-end memory semiconductor equipment, said it submitted an application for a preliminary Kosdaq listing review to the Korea Exchange on Oct. 28.

Ateco is pursuing a Kosdaq listing under the technology-based special listing program, with Mirae Asset Securities and IBK Investment & Securities serving as lead underwriters. The company plans to use proceeds from the listing to strengthen its product lineup. The program allows companies with recognized technological capabilities to go public even if they do not meet certain financial requirements, including profitability.

The company manufactures test handlers for automated memory semiconductor testing. Its equipment is used for high-bandwidth memory (HBM), LPCAMM (Low Power Compression Attached Memory Module) and SOCAMM2 (Small Outline Compression Attached Memory Module 2).

Ateco began supplying SOCAMM2 test handlers in the first half of this year. Its customers include Samsung Electronics and Micron. SOCAMM2 modules tested using Ateco equipment are used in Nvidia’s Vera Rubin artificial intelligence (AI) platform.

The company’s core technology is an integrated test handler for AI semiconductors. Ateco said its high-precision pressure control and hybrid cooling technologies have improved testing accuracy and stability.

The company faces financial difficulties. As of the end of last year, Ateco had negative equity, with total liabilities of approximately 43.1 billion won substantially exceeding total assets of about 27.5 billion won. Total equity stood at negative 15.6 billion won.

The financial shortfall stems from accumulated operating losses. Revenue last year totaled approximately 12 billion won, while the company posted an operating loss of about 10.9 billion won. Revenue declined roughly 33% from approximately 18 billion won a year earlier, while the operating loss widened about 24-fold from roughly 450 million won.