Ace Land, Subscription Competition Rate 760 to 1... 6.3 Trillion Won in Deposit Raised

As the only domestic member of TSMC's VCA (Value Chain Alliance), ASICLand succeeded in attracting strong interest not only in the demand forecast but also in the general subscription.

ASIC design solution company ASICLand conducted a public offering subscription for general investors over two days from the 2nd to the 3rd. The competition rate recorded was 759.88 to 1. The subscription deposit amounted to 6.2603 trillion KRW.

ASICLand received demand forecasts from domestic and foreign institutional investors over five days from the 23rd to the 27th of last month. Large overseas funds such as FMR and BlackRock, as well as sovereign wealth funds, participated. The final public offering price was set at 25,000 KRW, exceeding the upper limit of the expected range of 19,100 to 21,400 KRW.

A representative from Samsung Securities, which underwrote the listing, said, "We evaluated the company as having great sustainability due to its co-growth with TSMC and Arm, and benefits from the 4th industrial revolution such as AI," adding, "Following the successful demand forecast, the good results in the general subscription once again proved ASICLand's competitiveness."

ASICLand plans to use the funds raised through the IPO for ▲ full-scale entry into the U.S. market, a core market for fabless companies ▲ R&D and project personnel recruitment ▲ expansion of new businesses through investment in IP business.

CEO Jongmin Lee of ASICLand said, "We thank all investors who positively evaluated ASICLand's corporate value," and added, "We will actively communicate with shareholders after the listing and strive to become a leading global ASIC company."

ASICLand will be listed on the KOSDAQ market on the 13th.

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