Jenon Begins KOSDAQ IPO Process, Files Securities Registration Statement
Jenon has filed a securities registration statement with the Financial Services Commission to list on KOSDAQ.
According to Jenon on October 8, the company will offer a total of 2.2 million shares through the listing. The indicative price range is KRW 9,700 to KRW 12,200 per share, for total proceeds of approximately KRW 21.34 billion to KRW 26.84 billion. The book-building process for institutional investors will run from October 26 to 30, and subscriptions for retail investors are scheduled for November 4 and 5. Samsung Securities is the lead underwriter.
Founded in 2017, Jenon supports companies throughout the entire process, from developing AI strategies to development, adoption, and operation, based on its proprietary enterprise AI transformation (AX) platform, Jenos. In the first half of this year, standalone revenue was KRW 11.76 billion, up 4.3 times from the same period a year earlier. In just six months, it surpassed last year's full-year revenue of KRW 11.74 billion. Operating profit for the same period was KRW 2.2 billion, 3.1 times last year's full-year operating profit of KRW 700 million, with an operating margin of 18.7%.
Jenon plans to focus the proceeds from the offering on strengthening its AI infrastructure and core technological capabilities. It will invest in expanding AI computing infrastructure, including GPUs, to build its model training and service operations capabilities and establish a foundation to reliably meet growing customer demand. The company also plans to invest in enhancing its existing products and technologies, including Jenos, One Agent, and physical AI, to strengthen product competitiveness and accelerate the commercialization of new businesses.
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"Jenon has supported companies' practical AI transformation through its proprietary platform and project experience accumulated across various industries," said Ko Seoktae, CEO of Jenon. "With this offering as a springboard, we will expand investment in AI infrastructure and technology, accelerate the commercialization of AI agents and physical AI, and step up our entry into overseas markets to grow into a global enterprise AX company."
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