This week (May 11–15), Piece Piece Studio Co., Ltd., which operates a fashion brand, will begin book-building for institutional investors. MakinaRocks, an industrial-specialized physical artificial intelligence (AI) company that set its offering price at the top of its indicative range (band), will open subscriptions for retail investors.
According to the financial investment industry on the 10th, Piece Piece Studio Co., Ltd. will conduct book-building for institutional investors for five trading days from the 14th to the 20th. After filing an amended securities registration statement on Apr. 24, the book-building schedule, initially set to start on the 11th of this month, was slightly adjusted.
The company plans to offer a total of 2,272,637 shares. The offering includes 2,100,000 new shares and 172,637 existing shares. The price band is set at 19,000–21,500 won. Based on the top end, the estimated offering size is 48.9 billion won and the market capitalization is 304.8 billion won.
Piece Piece Studio Co., Ltd. rose to fame with the women's designer brand "Mardi Mercredi," introduced in 2018. Led by its flower graphic, Mardi Mercredi has built brand recognition at home and abroad, growing into a brand with annual revenue of 100 billion won.
At one point, a trillion-won valuation for its listing was mentioned, but the company lowered expectations due to deteriorating profitability. Piece Piece Studio Co., Ltd. posted consolidated revenue of 117.9 billion won last year, up 3.6% from a year earlier, but operating profit plunged 41% to 16.7 billion won.
MakinaRocks, an industrial AI specialist that completed book-building last week, will take retail investors' subscriptions over two days on the 11th and 12th. It drew attention as 99.96% of domestic and overseas institutional investors who participated in the book-building submitted prices at or above the top of the band.
MakinaRocks is a corporations that implements physical AI based on its enterprise AI OS "Runway." It has technology that enables integrated management of operations, including running AI, even in closed networks disconnected from external networks. It logged revenue of 10.4 billion won last year.
In particular, MakinaRocks drew attention from institutional investors by delivering tangible results on sites that demand high-difficulty AI operations, including automobiles, semiconductors, energy, secondary batteries, and defense. Of the total quantity requested in the book-building, 78.2% came with a lockup commitment of at least 15 days.
Meanwhile, new listings continue this week. Wearable robot corporations Cosmo Robotics and baby products specialist corporations Poled will list on the KOSDAQ market on the 11th and 14th, respectively, beginning first-day trading. The average initial return versus the offering price this year stands at 174.8%.