I-Scream Media IPO Book Building Results Analysis

• I-Scream Media reported its IPO book building results. The IPO price has been determined at 32,000 won, which is at the low end of the IPO price range.

• A total of 561 institutional investors participated in the IPO survey. The final demand ratio was 31.3 to 1.

• Our valuation analysis suggests an implied price per share of 41,450 won, which represent a 29.5% upside from the IPO price.

IPO Book Building Results

I-Scream Media reported its IPO book building results. The IPO price has been determined at 32,000 won, which is at the low end of the IPO price range (32,000 won to 40,200 won). A total of 561 institutional investors participated in the IPO survey. The final demand ratio was 31.3 to 1. At the IPO price of 32,000 won, this would suggest an implied market cap of 438 billion won.

The total funds raised in this IPO will be 78.7 billion won, making it the largest IPO offering in KOSDAQ so far this year. The company plans to use the IPO offering to further develop generative AI technology and AI digital textbooks, AI education content, certified textbooks, and for global business expansion.