South Korean first for Suprema

 

Fingerprint recognition firm Suprema has launched South Korea’s first IPO in the biometric sector, with 600,000 shares offered to the public at an opening day final price of KRW23,100 (US$23.03).

The company was founded in 2000, and now supports the majority of the South Korean biometrics market. Its technology is installed with more than 500 clients in 100 countries. It offers a range of fingerprint authentication products including OEM modules, fingerprint access control systems and software. The company’s line-up is now expanding to a range of ePassport readers and live scanners for the ePassport and AFIS markets, with initial deliveries of passport readers to airline ticket counters in Incheon International Airport and AFIS systems to the Korean National Police Agency.

The company’s revenue has increased at a Compound Annual Growth Rate (CAGR) of 96.3% since 2004. It says it expects this year’s turnover to double to KRW25 billion (US$25 million).