S2W IPO Draws Over 5 Trillion Won in Deposits... General Subscription Competition Ratio Hits 1,973 to 1

237,000 Applications Flood General Subscription
Global Achievements Based on AI Security Platforms
"We Will Strengthen Overseas Sales and R&D"

Big data analytics artificial intelligence (AI) company S2W has achieved a successful initial public offering (IPO), attracting over 5 trillion won in subscription deposits from general investors. The competition ratio soared to 1,972.62 to 1 as investor interest intensified.

According to the industry on September 15, S2W received a total of 237,127 applications for 779.18 million shares during the general subscription held on September 10 and 11. As a result, the total subscription deposit amounted to approximately 5.1426 trillion won.

Earlier, during the institutional investor demand forecast conducted from September 2 to 8, the competition ratio reached 1,145.40 to 1, and the offering price was set at 13,200 won, the highest end of the desired price band. From that time, the market had high expectations for the IPO's success.

Founded in 2018, S2W has grown by securing domestic and international government agencies and large corporations as clients through its security AI platform "XARVIS" for public and government institutions, and its security AI platform "QUAXAR" for enterprises and organizations. Recently, the company launched "SAIP (S2W AI Platform)," an industry-specialized big data analytics platform.

Notably, S2W has strengthened its global presence by supplying solutions to Saudi Arabian government agencies and securing long-term contracts with INTERPOL. Domestically, the company is pursuing new market entry and revenue diversification through initiatives such as signing a memorandum of understanding with Samsung Fire & Marine Insurance for cyber insurance.

Seo Sangdeok, CEO of S2W, stated, "Through the demand forecast and general subscription, we have confirmed investors' strong interest in our technology and growth potential," adding, "We will focus on expanding our overseas sales base and advancing our research and development (R&D) to enhance profitability."