On the 29th, the first day Semifive, the last initial public offering of the year, debuted on the KOSDAQ market, shares rose in early trading.
As of 9:54 a.m., Semifive was trading at 32,800 won, up 8,800 won (36.67%) from its offering price (24,000 won). Right after the open, it climbed as high as 42,200 won.
Semifive recorded a competition rate of 436.9 to 1 in a book-building for institutional investors held from the 10th to the 16th. A total of 2,519 domestic and overseas institutions participated, and the offering price was set at the top end of the desired range (21,000–24,000 won), at 24,000 won.
In the public subscription for retail investors held over two days on the 18th and 19th of this month, the competition rate came to 967.6 to 1. About 15.6751 trillion won was raised in subscription deposits.
Founded in 2019, Semifive is a company specializing in artificial intelligence (AI) application-specific integrated circuits (ASIC). It provides end-to-end engineering services from design to mass production for a wide range of clients, including fabless firms, set manufacturers, and service providers.
Semifive plans to use the IPO proceeds for securing engineering resources, operating funds due to a higher share of mass-production projects, and business expansion.