Newn AI (formerly RSN), a generative artificial intelligence (AI)-based big data analytics company, held an initial public offering (IPO) briefing on June 18 and announced its plans for a KOSDAQ listing as well as its future vision.
Newn AI possesses approximately 200 billion data records and processes an average of 22 million data entries per day and over 9 billion per year, based on real-time data from sources such as social networking services (SNS).
Leveraging this data, the company supports rational decision-making for enterprises by providing a wide range of applications, including brand and market analysis, external trend analysis, consumer experience analysis, new product discovery, and sales demand forecasting.
Newn AI has achieved an average annual sales growth rate of 20.5% over the past five years (2020?2024) and has maintained operating profit surpluses for 14 consecutive years.
The funds raised through this IPO will be used for R&D investment in new product development and for various expenses related to overseas market expansion. Based on its industry-specific expertise, the company plans to expand its product portfolio by launching various industry-specific software-as-a-service (SaaS) offerings in sectors such as beauty, e-commerce, and healthcare.
In addition, Newn AI plans to expand its market by introducing multilingual services targeting global companies seeking analysis of the beauty, food, and content markets. The company currently has the capability to collect global data from 150 countries and 30 language regions, and has already established global market responsiveness based on its technology for analyzing 10 languages.
Bae Seonghwan, CEO of Newn AI, stated, "Through our KOSDAQ listing, we aim to become the world’s number one AI technology partner by advancing our existing business, launching new services, and entering global markets."
Meanwhile, Newn AI plans to offer 2.22 million shares in this IPO. The desired offering price is between 13,000 and 15,000 KRW per share, with the expected total offering amount ranging from 28.9 billion to 33.3 billion KRW. Demand forecasting will be conducted over five days from June 12 to June 18, and subscriptions will be accepted over two days from June 23 to June 24. The company plans to list on the KOSDAQ market next month. The lead underwriter is NH Investment & Securities.
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