Submitted to the Financial Services Commission on the 13th... Scheduled to be listed by the end of next month
[Asia Economy Reporter Minwoo Lee] Obigo, a specialist in smart car software (SW) platforms, has officially begun the process of listing on the KOSDAQ market by submitting a securities registration statement to the Financial Services Commission.
Obigo announced on the 15th that it submitted the securities registration statement to the Financial Services Commission on the 13th.
Founded in 2003, Obigo supplies smart car software platforms and smart car content services to major domestic and international automobile manufacturers. Its main products include the Obigo AGB Browser, Obigo App Framework, Obigo Development Toolkit, and Obigo App Store.
It has supplied to Company A, the world's second-largest automobile seller, BlackBerry's 'QNX', the world's number one vehicle operating system (OS) provider, and Ssangyong Motor's connected service 'Infocon'. It is evaluated to have established a high entry barrier based on 104 domestic and international patents and its own core technologies.
The total number of shares offered is 2,211,820, with a price range of 12,400 to 14,300 KRW per share. Institutional demand forecasting will be conducted from the 7th to 8th of next month to finalize the offering price, followed by a general public subscription on the 10th to 11th of the same month. The scheduled listing date is at the end of next month. The lead underwriter is NH Investment & Securities.
Hwang Doyeon, CEO of Obigo, said, "We judged that the current time, when we have entered full-scale growth, is the optimal time to pursue a KOSDAQ listing," adding, "The funds raised through the offering will be used for research and development (R&D) investment to advance smart car SW products and develop new services, operate new smart car content services, and expand overseas business."
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