4.3 million shares offered at 26,400–31,900 won per share

Demand forecast Nov. 3–9; public subscription Nov. 12–13

Carbon material maker targets ESS, hydrogen energy markets

The corporate identity logo of JNTG. [JNTG]
The corporate identity logo of JNTG. [JNTG]

JNTG, a specialist in advanced materials for renewable energy, said Monday it has filed a securities registration statement with the Financial Services Commission and formally launched the public offering process for a Kosdaq listing.

The company plans to offer a total of 4.3 million shares in the IPO. The indicative price range is 26,400 to 31,900 won per share, putting the total offering size between 113.5 billion and 137.2 billion won. An institutional investor demand forecast will run from Nov. 3 to Nov. 9, while the general public subscription is scheduled for Nov. 12 and 13. Daishin Securities is the lead manager, with NH Investment & Securities serving as co-manager.

JNTG develops and produces carbon materials used in non-lithium secondary battery ESS, hydrogen fuel cells and water electrolysis systems. The company has built a vertically integrated production system covering everything from material development and process design through to mass production. Driven by growing supply to global customers, its sales grew at an average annual rate of 88.8 percent from 2021 through last year.

In the non-lithium secondary battery ESS segment, the company has secured materials and process technology that enhance electrode performance and durability. It has developed long-life electrodes using proprietary surface treatment and oxygen-nitrogen doping technology, and is advancing high-density material design and continuous mass production capabilities.

JNTG is also expanding in hydrogen fuel cells and water electrolysis. It is conducting mass production supply and joint development with global customers, drawing on carbon materials with high conductivity and rigidity. The company maintains R&D facilities and production bases in South Korea, while handling local sales and customer management in China.

The company is deepening ties with major domestic and international partners. JNTG said it was selected last October as a key materials supplier for Hyundai Motor's next-generation hydrogen commercial vehicle project. Having built partnerships with both Germany's Bosch and Hyundai Motor, the company has broadened its supply base for carbon materials used in hydrogen fuel cells.

JNTG plans to channel the proceeds from the offering into expanding production capacity, developing next-generation carbon materials and strengthening its ability to serve global customers. The company also intends to deepen collaboration with customers in key markets including North America, Europe and China.

"This IPO will serve as a springboard for us to take a leap forward in the global market, building on the carbon material technology and manufacturing capabilities we have accumulated," Chief Executive Jang Jae-won said. "We will concentrate the offering proceeds on expanding production facilities and R&D into next-generation materials, and work to strengthen our global competitiveness in non-lithium secondary battery ESS and hydrogen energy."


hajun825@heraldcorp.com