According to ETNews, Sunic Systems is set to become a public company via an IPO in Korea towards the end of September. The OLED deposition equipment maker aims to raise between $61 to $73 million.
Sunic business dramatically grew when it started to ship its 6-Gen deposition systems to L G Display, which uses these machines in its E5 mass production line (which reportedly is still struggling with very low yields). Sunic's sales grew from $25.7 million in 2015 to $128 million in 2016.
The only two companies that currently offer 6-Gen evaporation deposition systems are Canon Tokki and Sunic Systems.