Intellian in IPO

Oct 21 2016

Intellian Technologies has initiated an initial public offering of 1,450,000 common shares, via KOSDAQ, at an initial price of $17.27 per share.

The IPO will result in roughly $26 mill in raised capital and a total market capitalisation for the company of just below $124 mill. Shares started trading on the South Korean KOSDAQ market on 18th October, 2016 under the ticker symbol ‘189300 KS Equity.’

In 2015, company turnover reached $54 mill, with operating profit reported as $4.7 mill. Sales in the first six months of 2016 amounted to $38.6 mill, generating an operating profit of $6.5 mill.

“In only 12 years we have taken a leadership position over others who had been in the maritime market for decades,” claimed Eric Sung, Intellian President and CEO.  “Our innovative approach has led not only to this important milestone in our own success story, but also to growth for all our partners along the way, and key advancements in connectivity for the entire maritime industry. In the next five years, Intellian will invest no less than $100 mill in R&D to continue innovating and keeping people connected no matter where in the world they may be.”    

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