Lumir IPO Preview

• Lumir is getting ready to complete its IPO on KOSDAQ in September. The IPO which is expected to raise between 49.5 billion won to 61.5 billion won.

• Lumir specializes in the development of observation satellite technology including image data processing devices and onboard computers for a number of government satellite series.

• Lumir had sales of 12.1 billion won (up 90.5% YoY) in 2023. Its sales surged by 477% YoY to reach 8.2 billion won in 1H24.

Lumir is getting ready to complete its IPO on KOSDAQ in September. Lumir specializes in the development of observation satellite technology including image data processing devices and onboard computers for a number of government satellite series.

The IPO price range is from 16,500 won to 25,000 won. The company plans to offer 3 million shares in this IPO which is expected to raise between 49.5 billion won to 61.5 billion won. The expected market cap of the company is from 317 billion won to 480 billion won. The book building from the institutional investors will last from 9 to 13 September. NH Investment & Securities is the lead underwriter of this IPO.

Lumir has secured a strong position in the satellite market by winning the bid for the entire SAR mission payload of the next-generation medium-sized satellite No. 5. Through this, it has secured high reliability from the government and the Korea Aerospace Research Institute (KARI).

Using the IPO proceeds, Lumir plans to launch its self-developed ultra-high-resolution small SAR satellite LumirX, build a total of 18 satellite constellations, and accelerate its satellite SAR image/information service business using this.