UTI raises 2.995B KRW in small-scale offering, oversubscribed at 1.96-to-1

What's the deal? South Korea's UTIDealroom has a profile for this one. Try Dealroom →, an ultra-thin glass (UTG) maker, fully raised 2,995,000,000 KRW (roughly $2.1 million) in a small-scale public offering on August 10–11. The post-IPO equity round drew a subscription rate of 1.96-to-1, filling its entire target.

The mechanics: UTI offered 1,778,907 common shares at 1,684 KRW each through a general public subscription. The payment date was August 13, with new shares slated to list on September 4.

Why now? The raise became possible after South Korea lifted its small-scale offering cap from under 1 billion KRW to under 3 billion KRW on July 28. UTI says it is the first company to fully raise close to the new 3 billion KRW ceiling.

What's the endgame? UTI plans to use the funds as operating capital to mass-produce UTG for foldable smart devices bound for a global customer. It has finished quality verification and process stabilisation and secured final production approval, shifting the business from development into mass production.

What they're saying: The offering confirmed "the market's interest in the company's UTG business," a UTI representative said, adding it would use the capital to "steadily advance foldable UTG mass production" and improve supply capacity.

The signal: The round sits in the smallest tier of funding by amount, but it marks an early test of Korea's loosened small-scale offering rules — a lighter disclosure path meant to ease capital-raising for small and mid-sized firms. UTI's oversubscription suggests demand exists for the streamlined route.

Read more: eDaily

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