Telefix and four other companies submit pre-approval application for KOSDAQ listing... The official start of tech companies entering the stock market

South Korea’s Kosdaq Market Headquarters accepted the pre-listing review applications from four companies—Telepix, Barofarm, Mobius, and Melcon—on the 4th. As the first hurdle before going public, the pre-listing review is a comprehensive assessment of the company’s business structure, financial condition, governance structure, and more. This acceptance indicates that companies in the fields of technology, platforms, and automation equipment are continuously attempting to enter the securities market.

Telepix is a software development and supply company, primarily engaged in satellite optical payloads and satellite image artificial intelligence solutions. This is an area of increasing attention as aerospace, defense, and data industries converge, but it is currently still interpreted as being in a stage of steadily solidifying profitable foundations. The company’s sales last year were 4.9B Korean won, with an operating loss of 8.56B won. Barofarm is a company operating a pharmacy comprehensive platform, seen as a case of growth amid the digital transformation wave in drug distribution and pharmacy operations. Last year’s sales were 96.72B Korean won, with an operating loss of 3.93B won.

Mobius is a company supplying unmanned forklifts, autonomous mobile robots, and AI control platforms. With the growth of logistics automation and the demand for unmanned manufacturing sites, this industry has attracted market attention. However, due to significant technological development and equipment investment requirements, performance volatility is also high. Last year, Mobius’s sales were 31.99B Korean won, with an operating loss of 9.33B won. The main underwriters for the listing of these three companies—Telepix, Barofarm, and Mobius—are Mirae Asset Securities.

Melcon is a manufacturer of special-purpose machinery, mainly producing ultra-precision temperature and humidity control equipment. Given the demand for equipment in industries where environmental control is critical, such as semiconductors, biotech, and precision manufacturing processes, it is classified as a manufacturing company with relatively clear performance fundamentals. Melcon’s sales last year were 41.83B Korean won, with an operating profit of 6.16B won. The main underwriter is Daishin Securities.

Looking at these four companies applying for pre-review, it is noteworthy that growth-oriented companies still in loss status and manufacturing companies that have already achieved profitability are both knocking on the door of Kosdaq. Given that the Kosdaq market emphasizes technology and growth potential, in future review processes, factors such as business sustainability, technological competitiveness, and the potential for future profit improvement are likely to become core evaluation elements, rather than just sales scale.