Here are the latest news from Daehan Shipbuilding.
- Admin
- 10-14-2024
DHshipbuilding Signs Underwriting Agreement for IPO
DHshipbuilding Signs Underwriting Agreement for IPO
DHshipbuilding is making swift progress toward its listing on the Korea Exchange’s KOSPI market. The company’s IPO preparations are proceeding smoothly from the initial stages, and it is anticipated that the listing could be completed as early as the second half of next year.
Upon successful listing, the company’s market valuation is expected to exceed 1 trillion KRW.
According to a company representative, DHshipbuilding signed a lead underwriting agreement on the 23rd of this month, appointing KB Securities Co., Ltd. and NH Investment & Securities Co., Ltd. as lead underwriters and ShinYoung Securities Co., Ltd. as co-lead underwriter.
DHshipbuilding is a leading midsize shipbuilder in Korea, specializing in Suezmax and Aframax tankers. In 2023, the company achieved 816.4 billion KRW in revenue, 35.9 billion KRW in operating profit, and 38.3 billion KRW in net income, marking a return to profitability.
Riding the wave of a booming shipbuilding industry, DHshipbuilding is on track for further success in 2024, with projected revenue of 1 trillion KRW and an operating margin exceeding 10%.
The company representative added, “As of the end of August 2024, DHshipbuilding has secured an order backlog of approximately 30 vessels, valued at 2.6 billion USD, covering about three years of work. We expect further performance improvements through 2027.”
Industry experts predict that DHshipbuilding’s IPO, if successful amid the ongoing shipbuilding industry boom, will not only be a significant event for the shipbuilding sector but will also attract considerable attention in the IPO market.