TAIPEI (Taiwan News) — Kemflo International Co. began trading on the Taiwan Stock Exchange on Monday as it looks to expand further into semiconductor-related water treatment solutions.
The water treatment provider’s shares were underwritten at NT$70 (US$2.20) each, compared with a closing price of NT$96 on Friday. The stock opened below its offer price, tracking broader market weakness.
Founded in 1978, Kemflo produces water purification equipment and provides industrial water treatment and metal processing services. Commercial water purification has become a key growth driver, according to Money Link and Yahoo Stocks.
Kemflo is also targeting the semiconductor supply chain. Chip manufacturing requires large volumes of ultrapure water for repeated cleaning at each production stage, according to the Taiwan Filtration and Separations Society.
Within ultrapure water systems, activated carbon is a key filtration component. However, spent carbon is typically discarded through incineration or landfilling, increasing both costs and carbon emissions, according to CNA.
To address this, Kemflo is developing carbon regeneration and reuse processes. Its activated carbon regeneration facility in Pingtung has obtained a waste reuse permit.
The company is currently undergoing supplier qualification with major semiconductor customers. If approved, institutional investors expect the business to become its medium- to long-term growth driver.
Last year, Kemflo reported net profit of NT$848 million, down 28.5% from a year earlier. Earnings per share came in at NT$5.65, according to UDN Money.
