Nota, an artificial intelligence (AI) light-weighting and optimization technology corporations, was strong early in trading on the 3rd, its first day on the KOSDAQ market.
As of 9:09 a.m., Nota was trading at 23,550 won, up 14,450 won (158.79%) from the offering price of 9,100 won. It achieved a "double" (twice the offering price) right after the open.
Nota recorded a competition rate of 1,058 to 1 in a book-building for institutional investors held from on the 14th to the 20th of the previous month. A total of 2,319 domestic and overseas institutions participated, and the offering price was set at the top end of the desired range (7,600–9,100 won) at 9,100 won.
In the public subscription for general investors conducted over two days on the 23rd and 24th of the same month, the competition rate was 2,781.5 to 1. About 9.2261 trillion won in subscription deposits was collected.
Nota's main business is to build environments where AI operates efficiently from the cloud to on-device based on AI model light-weighting and optimization technologies. To maximize efficiency in AI development and operations, it reduces model size and computation and optimizes for hardware through its own platform, "NetsPresso."
The proceeds from the offering will be used for ▲ expanding high-performance servers and hardware infrastructure ▲ research and development and operating funds ▲ repayment of borrowing fund, among other purposes. Chief Executive Officer Chae Myung-su of Nota said, "We will continue to grow after the listing and become a global leader in AI light-weighting and optimization."