SimPlatform Records 913.05 to 1 Competition Rate in General IPO Subscription... "1.6 Trillion Won in Deposit Funds Attracted"

Industrial AIoT platform company Simplatform has succeeded in attracting strong interest by recording a high subscription rate in its public offering for general investors.

Simplatform announced on the 13th that it recorded a subscription rate of 913.05 to 1 in the public offering subscription for general investors conducted from the 11th to that day. The subscription deposits amounted to approximately 1.6 trillion KRW. Simplatform will be listed on the KOSDAQ market on the 21st after the payment deadline on the 14th. Based on the fixed public offering price of 15,000 KRW, the expected market capitalization is about 100 billion KRW.

Kang Tae-shin, CEO of Simplatform, said, "We believe this high subscription rate reflects the market's positive evaluation of our technological capabilities and growth potential," adding, "We will enhance corporate value through a successful listing and meet investors' expectations with continuous growth."

Earlier, Simplatform finalized the public offering price at 15,000 KRW, the upper end of the desired range (13,000 to 15,000 KRW), following a demand forecast targeting institutional investors. 99% of all demand forecast participants (including those who did not specify a price) proposed prices at or above the upper limit of the desired offering band, and 9.7% offered prices exceeding the upper limit, demonstrating high recognition of Simplatform's growth potential and corporate value.

Founded in 2011, Simplatform is a specialized AIoT platform company providing the ‘NUBISON AIoT’ platform, which combines ▲ IoT connectivity solutions ▲ explainable AI analytics solutions ▲ AI model management and operation (MLOps) solutions. This platform offers innovative solutions for AI application in industrial sites and has secured over 50 clients across various sectors including manufacturing, public services, healthcare, and agriculture. Additionally, through various AI projects, Simplatform possesses industry-specific platforms and packaged models, with major clients spanning semiconductor, medical, and sports industries such as DB HiTek, Gangnam Severance Hospital, and LG Uplus.