S2W IPO Priced at ₩13,200; 1145:1 Demand Surge

AI big data analysis specialized company S2W has successfully concluded its initial public offering (IPO) demand forecasting, setting its offering price at KRW 13,200, the top end of the desired band. In the demand forecasting for institutional investors, which took place from the 2nd to the 8th, a remarkable 2,304 domestic and international institutions participated, recording an astonishing competition ratio of approximately 1,145.40 to 1. All participating institutional investors proposed prices at or above the top end of the band and met the lock-up commitment requirements, proving high trust and expectations for S2W. This is also deeply significant as it is the first case applying the revised IPO system. Based on the confirmed offering price, the total public offering amount is approximately KRW 20.9 billion, and the expected market capitalization upon listing is approximately KRW 139.8 billion. S2W analyzed that this achievement is thanks to its unique multi-domain cross-analysis technology, impressive overseas order achievements such as exports to Saudi Arabia and contract renewal with Interpol, and a SaaS-based revenue structure boasting a high customer retention rate of 96%. The capital raised from the public offering will be primarily invested in global business expansion and infrastructure strengthening, including advanced AI technology research and development, establishment of overseas subsidiaries, and construction of Internet Data Centers (IDCs). CEO Seo Sang-deok expressed gratitude for the institutional investors' evaluation and stated his ambition to "focus on expanding infrastructure to strengthen global business and profitability" after listing. Subscription for general investors will take place on the 10th and 11th, and S2W is scheduled to successfully debut on the KOSDAQ market on the 19th, with Daishin Securities as its lead underwriter.