Intellian Technologies, Inc. announced to[ds_preview]day an initial public offering of 1,450,000 common shares via the KOSDAQ, at an initial price of $17.27 per share.
The initial public offering will result in roughly 26 mill. $ in raised capital and a total market capitalization for the company of just below 124 mill. $. Shares will start trading on the KOSDAQ Market on October 18.
Founded in 2004, Intellian is the global leader in maritime satellite communication systems. Company turnover in 2015 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. $.
»This is an exciting day for all of us. In only 12 years we have taken a leadership position
over others who had been in the maritime market for decades«
Eric Sung, President and CEO of Intellian
Proceeds from this offering will facilitate the company’s continued innovation and delivery of scalable solutions to the wider mobility satellite communications sector, says the company.
The next phase of growth for Intellian will expand the company’s footprint into other verticals such as aviation, land-mobile and military communications. In the next 5 years Intellian will invest no less than 100 mill. $ in R&D to continue innovating.
