Wrtn Begins Selecting IPO Underwriters, Aiming for a Listing After Next Year
TECHWORLD ·
✦ AI Summary
Wrtn Technologies sent an RFP to major domestic securities firms to select IPO underwriters.
The company plans to choose its underwriters this month and then finalize the listing schedule and procedures, with the target being a listing after next year.
It recently secured a Series C investment worth KRW 100 billion, was valued at more than KRW 1 trillion, and its North American AI entertainment content platform, 'OOC,' surpassed monthly sales of KRW 10 billion.
Wrtn Technologies has begun selecting underwriters for its IPO, moving into full-scale preparations for a listing. Wrtn announced on the 2nd that it recently sent out an RFP to major domestic securities firms to select IPO underwriters.
The company plans to choose its underwriters sometime this month. After the selection, it plans to finalize the detailed listing schedule and procedures, with the target being a listing after next year.
The push for this listing was driven by the expansion of overseas business and fundraising. Wrtn recently succeeded in securing a Series C investment worth KRW 100 billion, and cumulative investment raised has reached about KRW 230 billion.
During this funding round, the company was valued at more than KRW 1 trillion. The company said that the growth of its AI entertainment content platform, 'OOC,' which operates in the North American market, has been especially notable.
'OOC' recently surpassed monthly sales of KRW 10 billion. The platform is driving the expansion of overseas revenue.
Wrtn said it will expand its overseas AI services business based on the capital it has secured, while also pushing to strengthen service safety. It also said it is preparing a policy to protect teenagers during the use of AI and plans to announce the detailed policy this month.
Lee Se-young, CEO of Wrtn, said that since the company’s founding, it has grown over 5 years into a domestic AI services company and has been valued at more than KRW 1 trillion. He added that overseas revenue growth has confirmed the potential of the global market, and said the company will pursue expansion of its overseas business based on the trust of the capital markets while focusing on building safe and reliable AI services.
Source: TECHWORLD · Kim Seung-ki
Original: https://www.epnc.co.kr/news/articleView.html?idxno=406398
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Source: TECHWORLD
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