Bitnine Sets IPO Price at 11,000 Won... Demand Forecast Competition Rate 1662 to 1

[Asia Economy Reporter Ryu Tae-min] Graph database (DB) specialist Bitnine announced on the 28th that it has set the public offering price at 11,000 KRW, exceeding the upper limit of the desired range (9,700 KRW), reflecting the results of institutional investor demand forecasting for its initial public offering (IPO).

The total number of shares offered is 2,071,000. Accordingly, the public offering amount is 22.8 billion KRW, and the market capitalization after listing is 113.9 billion KRW. A total of 1,642 domestic and foreign institutions participated in the demand forecast, recording a competition rate of 1,662 to 1.

Bitnine plans to receive subscriptions from the 1st to the 2nd of next month and list on the KOSDAQ market on the 10th.

Bitnine is a company that developed a hybrid database management system (DBMS) combining relational databases and graph databases. Graph database technology is a technology that analyzes and visualizes various data as graphs, allowing the relationships between data to be seen.