[Asia Economy Reporter Son Sunhee] Cyber Threat Intelligence (CTI) specialist company SandsLab announced on the 3rd that it has successfully completed the demand forecast for institutional investors and finalized the public offering price at the top of the desired band, 10,500 KRW. A total of 3.7 million shares are planned for public offering, with general investor subscription scheduled for the 6th and 7th. The KOSDAQ listing date is set for the 15th.
The demand forecast conducted over two days starting the previous day for institutional investors saw participation from 1,541 institutions, recording a competition rate of 1,325.79 to 1. Among the institutional investors who participated, 98.08% proposed prices at the upper limit or above the public offering price band. A representative from the lead underwriter Kiwoom Securities stated, "Investors recognized not only SandsLab’s next-generation technology based on artificial intelligence and big data but also the potential for domestic and international business expansion."
SandsLab’s core technology involves analyzing and collecting big data of over 2 million malware samples daily, with a cumulative total exceeding 2.2 billion. It achieved cumulative orders worth 10 billion KRW by the third quarter of last year. The goal is to reach an operating profit of 30.9 billion KRW and an operating profit margin of 45% by 2025.
About 19.9 billion KRW of the listing funds will be used to build a cloud data center to ensure stable service provision and internalize infrastructure. Its main service, Malwarez.com, is scheduled to reopen this month after improving global payment interoperability.
Kim Ki-hong, CEO of SandsLab, said, "It seems that the desire to proactively respond to new cyber attacks was reflected in the demand forecast," adding, "We will firmly establish ourselves as a global top CTI company and continue to deliver meaningful performance to reward our shareholders."
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