HASS aims to boost global market share in lithium disilicate

[Photo provided by HASS]

HASS CEO Kim Yong-soo unveiled the company’s plans to increase its footprint in the global lithium disilicate market via an initial public offering (IPO). The announcement was made during a press conference held on Wednesday at the Conrad Hotel in Seoul, with the company aiming to list on the Kosdaq in July 2024.

Lithium disilicate is highly sought after due to its similarity to natural teeth and is used in dental prosthetics such as crowns and laminates. HASS currently holds around 5 percent of the global market share in this sector, and currently ranks third worldwide.

“The global lithium disilicate market is expected to grow more than threefold by 2029 from 318.9 billion won ($230 million) in 2022, driven by the increasing demand for aesthetic dental treatments,” Kim said.

HASS plans to use the proceeds from the IPO to expand into new business areas. Kim highlighted that the company has been collaborating with a Korean printing equipment company for the past three years to develop a crystallized glass material, which is expected to bring innovative changes once it is commercialized.

HASS plans to issue 1.81 million shares in this IPO. The expected price range of 9,000 to 12,000 won per share, and the company could raise around 21.7 billion won at the upper end of this range. The book-building process for institutional investors will conclude by Wednesday, followed by a public subscription from June 24th to 25th and the listing on the Kosdaq in July.