Archisketch, a 3D interior simulation service, is pushing to list on the KOSDAQ market in the second half of this year. It selected Mirae Asset Securities as the lead manager and has completed the securities firm due diligence stage.
According to the financial investment industry on the 6th, Archisketch selected Mirae Asset Securities as its lead manager and is proceeding with KOSDAQ listing procedures. A Mirae Asset Securities official said the company is currently preparing for the listing stage and has not yet reached the point of submitting a preliminary listing review application to the Korea Exchange (KRX).
Archisketch develops and operates a digital drawing–based 3D interior simulation solution. It provides a service that allows users to place furniture in a virtual space and is known to supply the solution to the interior platform Ohouse.
In general, after a lead manager is selected, corporate due diligence is conducted until the preliminary listing review. After that, a preliminary listing review application is submitted to the Korea Exchange (KRX) to review listing suitability and other matters. When the review is completed, a securities registration statement is filed, followed by the demand forecast and subscription stages.
Archisketch selected Mirae Asset Securities as its lead manager in 2024, but the initial public offering (IPO) schedule was delayed as lawsuits and a market downturn coincided. A patent infringement suit with proptech corporations Urbanbase that had continued for four years since 2021 became an obstacle, and the contraction of the IPO market that continued through last year also hindered the listing push.
Recently, however, the legal battle was concluded, and Archisketch completely resolved legal risks by acquiring all of the intellectual property (IP) of Urbanbase, which closed in 2024. Having cleared sources of conflict, Archisketch plans to speed up the IPO process with a goal of a KOSDAQ listing in the second half of this year. Archisketch is preparing for a technology assessment for a KOSDAQ technology special listing. If the technology assessment passes, the company must list within six months, so it is expected to apply for a preliminary listing review to the Korea Exchange (KRX) immediately.
Archisketch plans to expand from providing simple 3D interior technology to a platform that, based on spatial data, connects manufacturing to design and purchasing.
Manico Tech, a Chinese 3D spatial design corporations with the same business model as Archisketch, recently listed on the Hong Kong stock market with a market capitalization of about 2.3 trillion won at the offering price.
Lee Ju-seong, CEO of Archisketch, said, "As industry restructuring is taking place based on artificial intelligence (AI), we are also considering this," and added, "We plan to reposition as an intelligence platform for space and build success cases."