Simplatform, an industrial AIoT platform company pursuing a KOSDAQ listing, has succeeded in attracting strong interest from institutional investors during its demand forecast.
On the 10th, Simplatform announced through a public disclosure that the final offering price for this IPO demand forecast was set at the top end of the desired range (13,000 to 15,000 KRW), at 15,000 KRW.
A total of 2,135 major domestic and overseas institutions participated in this demand forecast, recording a ratio of 1,213.84 to 1. Notably, 99% of institutional investors offered prices at or above the top end, highly valuing Simplatform's growth potential and corporate value. Accordingly, expectations for the general subscription scheduled for the 11th and 12th have also been greatly heightened.
Founded in 2011, Simplatform is a company that efficiently collects, analyzes, and utilizes industrial data based on ‘AIoT’ technology, which combines artificial intelligence (AI) and the Internet of Things (IoT). It provides an ‘All-In-One’ AIoT solution that integrates data management from various devices in industrial sites and maximizes operational efficiency through AI-based analysis.
In particular, the strength of being able to manage all industrial site data with a single product received high praise from institutional investors. This acts as a differentiating factor in supply chain stability and technological capability, and is regarded as a key element proving Simplatform’s competitiveness in the AIoT market.
According to global market research firm Fortune Business Insight, the AIoT market size grew from $27.92 billion (approximately 40.456 trillion KRW) in 2022 to $35.65 billion (approximately 51.6568 trillion KRW) in 2023, and is expected to rapidly expand to $253.86 billion (approximately 367.8431 trillion KRW) by 2030. Worldwide, innovative changes are accelerating in various fields such as industrial automation, cloud computing, and robotics, increasing the necessity for AIoT technology.
Amid this market expansion, Simplatform plans to use the funds secured through this offering to expand R&D investment, advance AIoT technology, and broaden its market reach. Additionally, the company aims to lead digital innovation across industries by expanding its new customer base.
Kang Tae-shin, CEO of Simplatform, said, “Through this IPO, Simplatform’s AIoT technological capabilities have once again been recognized in the market,” adding, “We will grow into a competitive company leading digital innovation in industrial sites.”
Meanwhile, Simplatform is targeting a KOSDAQ market listing on the 21st of this month following the general subscription from the 11th to the 12th.
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