[Asia Economy Reporter Hyunseok Yoo] Saltlux, a software company specializing in artificial intelligence (AI) and big data, has completed its demand forecasting and will enter the KOSDAQ market on the 23rd.
Saltlux announced on the 10th that as a result of demand forecasting conducted over two days on the 7th and 8th targeting domestic and international institutional investors, the public offering price was finally set at 25,000 KRW. Accordingly, Saltlux's public offering amount was confirmed at 18.8 billion KRW. The market capitalization after listing is estimated to be around 125.8 billion KRW based on the public offering price.
This demand forecasting was conducted for 450,000 shares, excluding 150,000 shares (20%) allocated to the employee stock ownership association and 150,000 shares (20%) allocated to general investors. Many institutional investors offered prices above the upper limit of the public offering price. However, the company explained that the final public offering price was set at a market-friendly price that could be allocated to the majority of participating institutions to ensure a stable stock price trend and activation of the public offering after listing.
A representative from Korea Investment & Securities, which underwrote the listing, said, “Most investors who participated in the demand forecasting positively evaluated Saltlux's unique competitiveness in AI and big data business and highly appreciated its potential for continuous future growth.” He added, “After listing, if Saltlux's technology leads to the establishment of an AI ecosystem and the realization of a global platform business, a significant increase in corporate value is expected.”
Saltlux plans to accelerate growth through market expansion via cooperation with existing strategic investors and open innovation with domestic and international partners, leveraging its KOSDAQ listing as a milestone. In particular, Saltlux intends to expand its global market based on overseas subsidiaries already established and operating in Southeast Asia, Japan, and the United States.
The funds raised through this public offering will be focused on investment in R&D, cloud infrastructure, and new global businesses.
Saltlux CEO Kyungil Lee expressed, “We sincerely thank the investors who showed great interest in Saltlux despite the concentration of IPOs in July,” and added, “Based on 20 years of experience and Saltlux's unique business, we will continue to strive to become a global AI software specialized company beyond Korea.”
Meanwhile, Saltlux is scheduled to conduct general subscription over two days on the 13th and 14th and to be listed on the KOSDAQ on the 23rd.
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