WiseNut, a company specializing in artificial intelligence (AI) agents, received a poor report card in demand forecasting for institutional investors.
According to the financial investment industry on the 13th, WiseNut confirmed the public offering price at 17,000 won during the demand forecasting conducted for institutional investors from the 3rd to the 9th. This is below the lower end of the hoped-for public offering price range (24,000 to 26,000 won). The total public offering amount is 15.3 billion won, and the market capitalization after listing is 222.1 billion won.
In this demand forecasting, 370 institutional investors participated, recording a competition rate of 64.85 to 1. Of the number of participants, 338 cases (91.35%) proposed prices below the lower band. Among these, there were also 225 cases that submitted proposals below the final public offering price of 17,000 won. The number of mandatory lock-up commitments was counted as 1.
A representative from Samsung Securities, the underwriter for the listing, explained, "Considering the recent poor performance of newly listed companies in the public offering market and the public offering prices and commitments proposed by institutional investors, we decided on a public offering price of 17,000 won."
Founded in 2000, WiseNut is a B2B (business-to-business) company specializing in generative AI. Its main business areas are AI chatbots and search engines. It supplies these to approximately 5,500 clients in South Korea. In 2023, the consolidated sales reached 35.1 billion won, and the operating profit was 3.4 billion won.
WiseNut plans to conduct subscriptions for general investors on the 15th and 16th, and is set to list on the Korea Securities Dealers Automated Quotations (KOSDAQ) market on the 24th.