Ubion, IPO Price Set at 2,000 Won

[Asia Economy Reporter Hyungsoo Park] EduTech company Ubion has set its public offering price at 2,000 KRW.

Ubion announced that after conducting demand forecasting for institutional investors from the 2nd to the 3rd, it finalized the public offering price at the upper end of the desired band (1,800~2,000 KRW). Among the total public offering volume, 1,518,000 shares, which is 55%, were subscribed by a total of 638 institutions, recording a competition rate of 736.72 to 1.

A total of 5.52 billion KRW will be raised through the public offering. The funds will be used for content development necessary for global SaaS (Software as a Service) platform and bootcamp-based new technology education services, as well as operating funds for overseas expansion of its learning management system 'Cosmos (Coursemos)'.

Jaehwan Lim, CEO of Ubion, said, "Through the IPO, we plan to grow into a global EduTech company leading the future education industry." He added, "We will strengthen business capabilities and increase investor trust through the KOSDAQ transfer listing."

Founded in 2000, Ubion is an EduTech company that enhances learning efficiency and effectiveness by integrating ICT technology into education. Its main business areas include ▲ Learning Management System (LMS) Cosmos construction business ▲ Education service business such as finance and digital transformation (DX) education ▲ National aid projects such as Official Development Assistance (ODA) and Economic Development Cooperation Fund (EDCF) execution projects.

Subscription for general investors will be conducted from the 8th to the 9th, and the listing will take place on the 18th. Mirae Asset Securities is managing the listing.

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