Pado, IPO Price Set at 31,000 Won

Padugu, a semiconductor design specialist company, announced on the 26th that it has set the public offering price at 31,000 KRW following a demand forecast targeting institutional investors.

Over two days from the 24th to the 25th, a total of 1,082 institutions participated in the demand forecast, recording a competition rate of 362.9 to 1. Among the institutional investors who submitted prices, 84.4% offered prices at or above the upper limit of the public offering price.

Foreign institutional investors also showed interest. Many pension funds, sovereign wealth funds, and global large asset management firms with a long-term investment orientation participated.

A representative from NH Investment & Securities, the lead underwriter, said, "The data center sector is attracting significant market interest, and Padugu's technology, which has global major clients, appears to have received favorable evaluations from institutional investors."

Padugu, specializing in semiconductor design for data centers, has strengths in high performance, low power consumption, and miniaturization of SSD controller products achieved using its self-developed architecture. Mass production sales have been occurring since last year.

After listing, the company aims to accelerate product diversification and establish itself as a ‘global data center-oriented comprehensive fabless company.’ It is conducting full-scale research and development in all areas, including power semiconductors, communication semiconductors, computing semiconductors, and memory storage.

Padugu CEOs Nam Ihyun and Lee Jihyo said, "We thank everyone who recognized our competitiveness and growth potential," adding, "We will strive to realize the mid- to long-term vision promised to our investors."

The subscription for general investors will be held from the 27th to the 28th, and the company will be listed on the KOSDAQ market on the 7th of next month.

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