Acryl, an artificial intelligence (AI) infrastructure corporations, said on the 5th that it recorded a competition rate of 1,130.33 to 1 in a public offering subscription for general investors. It was tallied that 595 billion won in subscription deposits came in.
Acryl is a company that operates Jonathan, a Generative AI platform that includes AI infrastructure management and workflow automation features. It helps corporations develop AI efficiently.
Earlier, in the book-building for institutions that ended on the 1st, Acryl set the offer price at 19,500 won, the top of the hoped-for price range (band) of 17,500 to 19,500 won. The rate of lockup commitments of 15 days or more was 52.8% in total, and, based on participating quantities, 100% (including 0.45% with no price indication) wrote in prices at or above the top of the band. Accordingly, Acryl increased the number of offering shares by 20% from the initial 1.8 million shares to 2.16 million shares.
Acryl's total offering amount increased from 35.1 billion won to 42.1 billion won, and its market capitalization after listing is 155.6 billion won.
An official at the lead manager Shinhan Investment & Securities said, "Acryl, as the only AX infrastructure corporations in Korea, gained a positive response from domestic and overseas institutional investors regarding its competitiveness during the book-building," and added, "Accordingly, we expanded the number of offering shares by the maximum 20% within the range allowed by regulations." Acryl plans to focus investment on R&D and facility expansion using the offering proceeds. Specifically, it plans to use the funds for ▲ purchasing GPU servers and storage and expanding cloud infrastructure ▲ domestic and overseas marketing and certifications and establishing overseas branches ▲ advancing AX infrastructure, an NPU-specialized platform, and SaMD development.