Optonics, set to list in November, to expand K-defense lineup through IPO

[Financial News] Optonics, a company specializing in ultra-precise sensor optics, will expand its production capacity for fiber-optic gyroscope (FOG) components through its KOSDAQ listing. Following its initial public offering (IPO), the company plans to increase its recruitment of top talent while entering the laser weapons and power infrastructure sectors, drawing on its defense optics technology to diversify its customer base.
At an IPO press conference in Yeouido, Seoul, on the 26th, CEO Lee Young-woo said, “The whole world is now interested in weapons from the K-defense industry,” adding, “The core technologies Optonics has secured are not only specialized in gyroscope manufacturing but also provide a top-tier technological foundation in the field of specialized optics.”
Founded in 2004, Optonics manufactures optical components for gyroscopes, sensors that detect rotation. These components are used in inertial navigation systems that calculate position, speed and attitude without GPS signals. Through its major customer Hanwha Aerospace, they are installed in multiple-launch rocket systems, surface-to-air guided weapons and tanks.
The company says it is the only domestic manufacturer to mass-produce core optical components for both ring laser gyroscopes (RLGs) and FOGs. It carries out key processes in-house, including polishing, coating, machining and bonding RLG components, as well as manufacturing optical chips for FOGs.
Last year, consolidated revenue was 25.6 billion won and operating profit was 3.6 billion won. In the first half of this year, the company posted 12.35 billion won and 1.42 billion won, respectively. Its order backlog stood at 25.66 billion won at the end of September, about the same as its full-year revenue last year.
The FOG business is a key growth driver. Revenue from FOG components rose about fivefold, from 980 million won in 2023 to 4.94 billion won last year. They accounted for 26.8% of revenue in the first half of this year. The company will invest 14.18 billion won of its IPO proceeds in establishing a fiber-optic coil production line. This will expand its product offerings beyond existing optical chips and light sources. It plans to complete preparations for mass production by the fourth quarter of 2027 and begin supplying products in 2028.
The company is also pursuing customer diversification by developing optical components for laser weapons and sensors for power grids. In particular, it is developing products for the high-voltage direct current (HVDC) transmission sector after being commissioned by a major domestic power infrastructure company.
The offering will comprise 2.2 million shares, with an indicative price range of 10,000 to 12,000 won per share, for a projected offering value of 22 billion to 26.4 billion won. The expected market capitalization is 95.7 billion to 114.8 billion won. The company will conduct bookbuilding among institutional investors through the 27th, hold its public subscription on November 5 and 6, and aims to list on KOSDAQ on the 17th of the same month. Korea Investment & Securities Co., Ltd. is the lead underwriter.
[email protected] Joo Won-gyu Reporter