[Market Focus] NewnAI Surges Over 180% on First Day of KOSDAQ Listing

NewnAI, an artificial intelligence (AI) big data analytics company, is showing an increase of more than 180% on its first day of listing on KOSDAQ.

The Korea Exchange KOSDAQ Market Division held a listing ceremony for NewnAI, an online big data analysis AI developer and supplier, at 9 a.m. on the 4th at the PR Center of its Seoul office. Korea Exchange

As of 9:40 a.m. on July 4, NewnAI was trading at 43,000 won, up 28,000 won (186.67%) from its initial public offering (IPO) price of 15,000 won.

In the institutional investor demand forecast held prior to the listing, the competition ratio reached 995.61 to 1, and the IPO price was set at the upper end of the desired range (13,000 to 15,000 won) at 15,000 won. Subsequently, the general subscription also recorded a high competition ratio of 1,468.83 to 1. A total of 6.114 trillion won was collected as subscription deposits.

Founded in 2004, NewnAI is a specialized AI analytics company that provides enterprise subscription services based on AI technology.