Sensorview
The author is an analyst for NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com -- Ed.
As an RF connectivity solution provider, Sensorview’s main products include mmWave antennas, high-frequency cables, and ultra-precision connectors. The firm should benefit from 5G 28GHz-related investment moving ahead.
RF connectivity solution provider
Sensorview is an RF connectivity solution provider. Its main products include mmWave antennas, high-frequency cables, and ultra-precision connectors. The company possesses nano-material processing technology and shielding technology, in addition to precision design technology that can minimize signal loss in the high-frequency range. Its products are used in 5G stations and terminal devices, as well as in the defense, aerospace, and semiconductor industries.
Developer of mmWave-related technology
Sensorview boasts knowhow in the development and manufacturing of mmWave materials and components. The company has track records with tier-one clients in the 5G market. In 2018, it was selected as a supplier by both SEMCO and Keysight Technologies, and it shipped high-frequency cables to SpaceX. The firm is also supplying small cell-related components, such as ultra-small transmission lines, to Qualcomm. These track records should result in good opportunities once investment in 5G 28GHz starts in earnest.
Sensorview expects to raise a total of W11.1bn through its IPO, which will be directed towards facility investment (W8.1bn) and R&D (W3bn). The company is set to go public under the special fast-track listing scheme for tech companies, as it was rated A by NICE Information Service. Its 2023E P/E ranges between 9.0x~11.2x, based on IPO price and 2025 earnings guidance (applying 20% discount rate). The firm is to offer 3.9mn shares (100% new shares) during the IPO, with a post-IPO free-float ratio of 36.8%.