TeraView reveals historic IPO in Korea with a $26m haul
TeraView supports companies such as NVIDIA, AMD, Intel, Samsung, Ford, Volkswagen and other major Fortune 500 companies via the provision of terahertz systems for product development, quality assurance and inspection.
This landmark achievement reflects the growing importance of South Korea as a global financial hub and signals a new era of cross-border investment opportunities between the UK, Europe and Asia.
The listing enables the company to continue to invest in and expand support for its customers in Korea, the US, Asia and across world. It also will enable TeraView to continue to develop products and next generation terahertz technology platforms for current and future markets.
Designed originally as a counterpart to NASDAQ to provide both trading and funding opportunities for shareholders in innovative companies in high growth sectors, KOSDAQ has evolved into Korea’s second largest stock market (after the main KOPSI market) with approaching 1800 companies listed.
Listing on KOSDAQ allows TeraView to better support its Asian customers as well as develop and manufacture technology across the world. TeraView will use the $26 million capital raised to enhance customer support and to innovate products and technology in its target markets in AI chip and automotive battery inspection, as well as in other existing and emerging markets. Manufacturing capacity and investment in R & D for terahertz technologies will also be expanded.
Dr Don Arnone, TeraView’s CEO and Co-Founder, said: “The first listing of a UK company – and to our knowledge a European company – on KOSDAQ has been a pioneering effort in itself, and one in which we take pride. We are sincerely grateful to the Korean stock market, our supportive shareholder base and Samsung Securities as our advisor.
“Support from our shareholders over the years has been key, and we are grateful in particular to Stuart Chapman and his colleagues at Molten Ventures for their support. Molten’s sector expertise in semiconductors has been valuable on our journey towards IPO.
“My colleagues at TeraView have also built a world-class, innovative company that has no equals in the provision of terahertz solutions and products to customers, and this listing stands on their accomplishments. Importantly, this listing enables the company to continue to invest in and expand support for our customers in Korea, the US, Asia and across world. It also will enable us to continue to develop products and next generation terahertz technology platforms for current and future markets.”
Professor Sir Michael Pepper TeraView’s Chief Technology Officer and Co-Founder commented: “TeraView has pioneered applications for terahertz technology which at the time were unsuspected. We are enormously appreciative of investors confidence in the achievements of our company as evidenced by this listing which will enable TeraView to develop the next phase of innovative products.
“We will now extend terahertz technology into new areas and markets to realise its full potential with great benefits to the current and the many future customers.”
