CMES prepares for IPO... Organizer Samsung Securities
Atypical factory automation technology recognized... Consideration of a special technical listing
According to the investment industry on the 10 Jan., CMES selected Samsung Securities as the host company for listing on the KOSDAQ. The target period for listing is the end of 2021 or the first half of 2022. Considering the timing of listing, it is relatively quick to select a host company. It means a willingness to start improving valuations with securities companies before listing.
CMES succeeded in implementing atypical factory automation by combining 'vision' such as a scanner and software with a 'robot' and was recognized for its technology. It breaks the existing frame where the robot and vision were separated, and it is equipped with software that can control the robot. Robots are able to do constant repetitive tasks. They can also move according to their work characteristics, which means that they can replace people in actual production lines or distribution lines.
Currently, CMES is the only technology like this in Korea. This is why it is also considering listing on special technology. Customers include Hyundai Motor Company, LG, Mando, and Nike.
Investment attraction is also smooth thanks to growth potential. After receiving an investment of about 1 billion won from SK Telecom in 2016, it completed the 5 billion won funding last month. This is from Atinum Investment and Kolon Investment, who have experience listing the smart factory-related company THiRA-UTECH.
Usually, the venture capital industry invests in the form of convertible redeemable preferred shares (RCPS), but this investment method was made in the form of common shares. Although the investment benefits are relatively small, it means that CMES has recognized its technology. Earlier, SK Telecom invested also in the form of common stock.
A market official said, "Robot vision technology is applied to the vast domestic market behind the scenes and manufacturing and mass production lines of major global conglomerates." It is highly appreciated that it possesses high growth potential based on points, etc.," he said.
The growth of CMES could affect the valuation. The valuation of the target period is expected to rise further. The corporate value evaluated at the time of attracting investment in 2016 was around 10 billion won. In attracting investment at the end of last year, it is said to have been evaluated with a corporate value of over 30 billion won.
Source: The Bell, 13 Jan. 2020