TNE Korea, which is preparing to list on the KOSDAQ market, has finalized its initial public offering (IPO) price at 15,300 won per share.

The company announced on Oct. 16 that it had set the offering price at the top of its indicative range of 12,600 won to 15,300 won. The IPO is expected to raise 36.7 billion won, valuing the company at approximately 173.7 billion won. TNE Korea is offering 2.4 million shares, with 11,351,096 shares expected to be outstanding upon listing.

TNE Korea conducted institutional bookbuilding among domestic and overseas investors from Oct. 7 to 14. A total of 2,274 institutions participated, generating a subscription ratio of 1,041.02 to 1. Of the participating institutions, 99.87% submitted bids at or above the top of the indicative price range.

TNE Korea supplies industrial products based on high-speed, compact turbomachinery technology. The company is expanding its applications to include components for on-site power generation at AI data centers and air compressors for hydrogen-powered vehicles. It is also broadening its business into aerospace, defense, shipbuilding, marine industries and semiconductors to strengthen its medium- to long-term growth prospects.

The company passed the KOSDAQ preliminary listing review in August and is pursuing a technology-based special listing. Following the pricing decision, retail subscriptions are scheduled for Oct. 20-21, with the listing planned for Oct. 29. IPO proceeds will be used to expand manufacturing facilities, automate production, increase production staff and develop next-generation products.

TNE Korea has set revenue targets of 55.2 billion won for 2026 and 96.6 billion won for 2027. First-half revenue reached 21.1 billion won, equivalent to 90% of its full-year revenue in 2025. The company recorded operating losses of 1.6 billion won in 2024 and 1.8 billion won in 2025, before turning to an operating profit of 3.5 billion won in the first half of 2026.