Neosapience, an artificial intelligence (AI) voice and video generation platform corporations pursuing a KOSDAQ listing, secured more than 2 trillion won in deposits from retail subscriptions. The competition rate topped 1,000 to 1, signaling strong demand.
According to the financial investment industry on the 11th, Neosapience took public offering subscriptions for retail investors from the 10th through the day and gathered about 260 billion won in deposits.
There were about 100,000 subscription orders, and the final competition rate came to about 1,048 to 1. Daishin Securities was the lead manager.
In the earlier institutional investor book-building, the competition rate was only about 220 to 1. The final offer price was set at 10,000 won, below the lower end of the indicative range (13,000 to 16,000 won).
It is seen that pricing the offer about 23% below the lower end of the range drew interest from retail investors. Based on the final offer price, the offering size is 20 billion won. The market capitalization at listing is 122 billion won.
The company plans to use the proceeds to expand its Conversational AI business, overseas marketing, research and development (R&D), and to build a GPU cluster. It will list on the KOSDAQ market on the 21st.