Artificial intelligence (AI) marketing corporations Madup is surging 140% on the first day of its KOSDAQ debut on the 1st.
As of 9:08 a.m. on the 1st, on the KOSDAQ market, Madup shares are trading at 18,040 won, up 10,040 won (125.5%) from the offering price (8,000 won).
Madup is a tech corporations that provides digital marketing solutions based on advertising data and an AI engine. Its core asset is the AI digital marketing engine "LEVER Xpert."
Madup plans to invest the funds secured through this listing in AI facility investments and hiring to advance Lever Xpert, global market expansion using the North America subsidiary as a base, and solution-based revenue growth.
Earlier, Madup held an initial public offering subscription for retail investors over two days on the 23rd to 24th of last month, recording a competition ratio of 3,305 to 1. This is the highest level among newly listed corporations in the past four years.
In the book-building conducted for domestic and overseas institutional investors from Jun. 12 to 18, a total of 2,392 institutions participated, recording a competition ratio of 1,396 to 1. The final offering price was set at 8,000 won, the top end of the desired price band.