PIE, Subscription Competition Rate 83 to 1

AI software company PII announced on the 21st that it recorded a subscription competition rate of 83 to 1 in its public offering for general investors.

PII received subscriptions over two days from the 20th to the 21st, collecting 186.5 billion KRW in deposits. It will be listed on the stock market on the 4th of next month.

Through its initial public offering (IPO), PII secured a total of 18 billion KRW. The raised funds will be used to expand research facilities, strengthen AI software technology competitiveness, and develop new technologies.

Choi Jeong-il, CEO of PII, said, "We were able to confirm positive evaluations of PII's technological capabilities and growth potential," adding, "After listing, we will pioneer new markets and strengthen our core competency in AI software technology."

The global AI vision market size is projected to grow at an average annual rate of 21%, from 17.2 billion USD in 2023 to 45.7 billion USD in 2028. PII has independently developed AI software with detection and problem-solving capabilities using deep learning, as well as image processing algorithm software. It supports manufacturing efficiency improvement with advanced AI software such as unsupervised learning-based AI and Data Quality Indicator (DQI).

PII's advanced AI software solutions are also receiving positive evaluations in the market. It has established key partnerships with three battery manufacturers and supplies AI software solutions tailored to each partner's manufacturing processes.

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