NewenAI (formerly RSN, CEO Bae Seong-hwan), a big data analysis company specializing in generative artificial intelligence (AI), announced on the 23rd that it has submitted a securities report to the Financial Services Commission and has begun full-scale public offering procedures.
Through this listing, Newen AI plans to offer a total of 2,220,000 new shares, and the desired offering price has been set at 13,000 to 15,000 won. Accordingly, the expected offering amount is approximately 28.9 billion to 33.3 billion won. Demand forecasting will be conducted for five days from June 9 to 13, and general subscription will be conducted for two days from June 19 to 20. The lead manager for the listing is NH Investment & Securities, and Newen AI aims to be listed on the KOSDAQ market within the year.
Founded in 2004, NewenAI's main business is big data analysis using artificial intelligence technology and providing customized subscription services for companies. Based on the self-developed colloquial language model 'Quetta', it operates various product groups such as ▲ corporate AI analysis service 'Quetta Enterprise' ▲ general-purpose big data analysis service 'Quetta Service' ▲ data purification and processing service 'Quetta Data'.
Based on the foundation model 'Quetta_LLMs' specialized in online big data analysis, NewenAI is commercializing high-quality data analysis technology based on generative AI and deep learning. Recently, it has strengthened its technological competitiveness by introducing industry-specific generative AI services including 'Quetta_TrendGPT' based on search augmented generation (RAG) technology.
The funds raised through the public offering will be used for R&D investment for new product development and for laying the foundation for overseas market expansion. The company plans to utilize accumulated data by industry to expand its industrial SaaS product line for beauty, healthcare, e-commerce, etc., and to launch multilingual analysis services targeting the K-content and consumer goods markets, thereby fully advancing into the global market.
CEO Bae Seong-hwan said, “With this listing as an opportunity, we will focus on technological advancement and global market expansion to provide differentiated value unique to NewenAI to customers in various industries.”
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