OPENEDGES Listing on KOSDAQ this September
Seoul, South Korea, September 9th, 2022 --- OPENEDGES Technology, Inc. (hereinafter referred to as OPENEDGES), the leading artificial intelligence (AI) semiconductor IP platform provider, held a press conference to present its post-initial public offering (IPO) growth strategy after the completion of its listing on the KOSDAQ this September, in South Korea.
<Image 1: Sean Lee, the CEO Of OPENEDGES Technology, speaking at the press conference>
The total number of public offerings of OPENEDGES is 3,636,640, with the estimated IPO price currently expected between 15,000 won to 18,000 won (appx. $11 to $14) per share, resulting in a total public offering between 54.5 billion won to 65.5 billion won (about $41.9 million to $50.4 million). The price per share will be confirmed by conducting demand forecasts for institutions from September 7th to 8th, followed by applications for general investors on September 15th and 16th, with the plan to go public on the 26th. The IPO underwriter is Samsung Securities.
As the only integrated AI IP platform provider of the core functional blocks of NPU and memory systems (interconnect, memory controller, and PHY IPs) necessary for AI semiconductor chip design, OPENEDGES delivers advanced IPs to fabless and design houses, etc. Within just five years since its establishment, the company has realized over 30 licenses worldwide and achieved 135% annual sales of 2021 in the first half of 2022 alone, based on the license fees for semiconductor IP supply, including running royalties fee associated with the mass production of semiconductor chips with IP.
“The cost of semiconductor chip development to mass production can easily exceed 100 million dollars, so proven semiconductor IPs are critical as they can minimize the financial and time damage in case of failure,” said Sean Lee, the CEO of OPENEDGES. “We have developed distinct design IP technology in our integrated AI IP platform for the market and are currently building its success story and achieving global recognition.”
OPENEDGES plans to continually develop advanced IPs for the most advanced micro-semiconductor process technology, expected to start with security cameras and car infotainment, ADAS, E-mirror, driving monitoring systems, and so on that will secure new growth engines with the public offering funds.