EGTRONICS Announces Its Successful IPO With Plans to Increase Automation Facilities
SAN JOSE, Calif.–(BUSINESS WIRE)–EGTRONICS, an electric power converter manufacturer, successfully launched its IPO on KOSDAQ on February 4th. EGTRONICS offered 1.98 million shares worth a total of $36 million, with a market cap of about $142 million.
The funds raised from the public offering will go towards building reliability center and automation facilities which will enable automation of small-scale sample production of power conversion devices and other products.
Founded in 2008, EGTRONICS’ power converters, such as its proprietary DC-DC converters, have been used as core components in various industries like automotive, shipbuilding, telecommunication, and healthcare.
It is worth noting that EGTRONICS is the only company in the world to produce converters specialized in 10kW capacity batteries, and its converters have electrical energy conversion efficiency of 97%.
EGTRONICS is currently seeking to establish an overseas joint venture in order to respond to the growing demands of its global customers, and the company will be securing production bases before entering Southeast Asia and Europe.
About EGTRONICS | www.egtronics.com
EGTRONICS is a leading developer of eco-friendly technology with its specialty in electric power conversion in a wide variety of areas, such as electric vehicle power transfer, rectifier and PSU, renewable energy, and more.
Charles Chung – America Branch President