AI infrastructure management and operations software company Rableup will list on the KOSDAQ market on the 3rd.

Rableup confirmed its KOSDAQ listing at an IPO price of 19,000 won per share, with a total offering size of 41.4 billion won, after completing demand forecasting and subscriptions.

According to the company, a bookbuilding for institutional investors held from Oct. 13 to 19 drew a total of 1,129 institutions and recorded a competition ratio of 284.53 to 1.

The company said major domestic asset managers and overseas blue-chip institutional investors took part in the bookbuilding process after assessing the competitiveness and mid- to long-term growth potential of Rableup's AI infrastructure software.

Rableup plans to use funds raised through the listing to advance research and development and expand its global business. It plans to upgrade existing functions of Backend.AI and expand its customer base for new solutions, broadening the business into an integrated operations platform covering AI infrastructure end to end.

To respond to expanding global investment in AI infrastructure, it plans to strengthen local partnerships and speed up efforts to secure new customers in major markets such as North America, Asia and Europe.

Rableup posted first-half sales this year of about 4.8 billion won, up 58.2 percent from a year earlier. Operating profit was about 600 million won.

Rableup CEO Jeong-gyu Shin (신정규) said, "After the listing, we will prove our corporate value through tangible business results." He added, "We will make a leap to become a global AI infrastructure software company through growth in our existing business, expanding the customer base for new solutions, and entering global markets."