[Featured Stock] Saltlux Surges on First Day of KOSDAQ Listing... "Biggest Beneficiary of Domestic AI Market Growth"

[Asia Economy Reporter Yoo Hyun-seok] Saltlux is rising above its public offering price on the first day of its KOSDAQ listing.

As of 9:48 AM on the 23rd, Saltlux recorded 42,500 KRW, up 6.25% (2,500 KRW) from the opening price of 40,000 KRW.

Founded in 2000, Saltlux is a software company specializing in artificial intelligence (AI) and big data. Based on its data platform, it has conducted crisis detection and early response projects in defense and security sectors such as the Ministry of National Defense and the Defense Security Command through machine learning and augmented analytics. It also provides AI consultation chatbots, AI recruitment screening and chatbot consultation, and AI counselor support solutions. Saltlux recorded sales of 12.2 billion KRW and operating profit of 600 million KRW in 2017, and achieved sales of 18.3 billion KRW and operating profit of 25 million KRW last year.

During the two-day institutional investor demand forecast held on the 7th and 8th, the public offering price was set at 25,000 KRW, near the lower end of the desired band of 24,000 to 30,000 KRW. Additionally, the public subscription for general investors recorded a competition rate of 953.53 to 1.

Lee So-jung, a researcher at SK Securities, explained, "Saltlux's AI, big data, and cloud business divisions include subscription or maintenance services that generate continuous revenue, so the operating profit margin increases as the supply scale or the number of clients grows."

He emphasized, "Saltlux is a leading company in the domestic AI market targeting corporate customers (B2B) and public institutions (B2G), and is considered the biggest beneficiary of the growth of the domestic AI market. We expect sales of 22 billion KRW and operating profit of 2.1 billion KRW this year."

This content was produced with the assistance of AI translation services.