[Asia Economy Reporter Son Sunhee] Cyber threat intelligence (CTI) company 'SandsLab', which is preparing for a KOSDAQ listing, announced on the 7th that it recorded a subscription competition rate of 868.07 to 1 in its public offering subscription for general investors.
According to SandsLab on the day, the total subscription deposit collected during the two-day subscription period starting the previous day amounted to 4.2155 trillion KRW. SandsLab had previously set the public offering price at the top end of the desired range, 10,500 KRW, through a demand forecast conducted for institutional investors. A total of 3.7 million shares will be offered, and the company is scheduled to be listed on KOSDAQ on the 15th.
SandsLab was incorporated as a subsidiary of KSign in 2017, recognized for its artificial intelligence (AI) and big data capabilities in analyzing and collecting malware big data. It provides information services on various forms of cyber threats through its intelligence platform 'Malwares.com'.
SandsLab recorded operating revenue of approximately 5.4 billion KRW (operating profit margin about 9%) in 2021. The company aims to achieve operating revenue of 30.9 billion KRW and an operating profit margin of 45% by 2025.
Kim Ki-hong, CEO of SandsLab, stated, "We thank those who believed in SandsLab's potential and invested despite the challenging market conditions, and we will repay them with performance."
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