이 기사는 2020년 03월 26일 08시00분 thebell에 표출된 기사입니다

A clearer picture of potential buyers of STIC Investments-backed Orion Technology will likely be available soon, as the preliminary round of bidding is expected to take place around the middle of the next month.

South Korea’s STIC Investments, the largest shareholder in Orion Technology, and Deloitte Anjin, which is advising on the sale process for the marine parts supplier, plan to receive letters of intent from interested investors as early as mid-April, sources close to the matter said on Monday.

They initially planned to hold the preliminary bidding last month with the sale process being kicked off early February, but ended up postponing the timeframe for the bidding process as some PE firms, which were named as possible buyers, had difficulty in raising capital due to impact of the coronavirus outbreak.

Four to five consortiums of strategic and financial investors are reportedly considering joining the bidding process, indicating strong investor interest in the company. Orion Technology is the only company in the country that provides electronic components for engines of large ships. It is also diversifying its business into robot parts, increasing its attractiveness to potential investors.

Under STIC’s ownership, Orion Technology sold its non-core business including security monitors. Instead, the company entered the industrial collaborative robots market in 2018, adding robot controllers and teaching pendants to its product portfolio.

Orion Technology has also focused on developing electronic components used in smart ships, which are considered key to the future of shipbuilding.

STIC initially bought 15 billion won convertible notes issued by Orion Technology in 2013, and then exercised its option in 2015 to convert the debt into shares, which gave STIC 81.05 percent ownership of the company.

(By reporter Kim Hye-ran)