RF Systems, ahead of KOSDAQ listing, raises KRW 5 billion from IBK and others
RF Systems (formerly B&C Tech), an RFHIC affiliate, said on the 6th that it raised KRW 5 billion from IBK Industrial Bank and other institutions. The company holds military antenna and environmental-control (HVAC) technology, with customers including LIG Nex1.
Investors were Eugene Investment & Securities (KRW 1.5 billion), Timefolio Asset Management (1.5 billion), K2 Investment Partners (1 billion) and IBK Industrial Bank (1 billion). The funds will be used as operating capital.
IBK's innovation-investment team led the deal. An IBK official said the bank valued RF Systems' radar mechanical design, antenna joining process and other design and special-joining technology, and expected its system-design capability to create synergy with parent RFHIC as RFHIC's products expand into RF sub-systems.
RF Systems is also preparing construction of its new Osan headquarters, which will triple production capacity, and is preparing for an IPO with NH Investment & Securities as lead manager.
[Seoul Economic Daily, 6 May 2021]
