MadUp, an artificial intelligence (AI) advertising company, is maintaining a strong performance on its second day of trading on the KOSDAQ market.
As of 9:39 a.m. on July 2, MadUp's stock price rose by 1,580 won (15.67%) to 11,660 won compared to the previous trading day. The stock opened at 10,830 won and peaked at 12,000 won during the session, nearing a 20% increase. Although it later retraced some gains, it continued to show double-digit growth.
On its first day of trading, MadUp closed at 10,080 won, a 26% increase from its initial public offering price of 8,000 won, indicating a positive market response.
Founded in 2015, MadUp provides AI-based digital advertising solutions and agency services. The company is noted for automating over 90% of digital marketing tasks, which traditionally relied heavily on manual data collection, processing, and advertising operations.
Kang Young-hoon, a researcher at Samsung Securities, stated, "Since establishing a North American subsidiary last November, MadUp has been proactively handling global performance marketing for K-brands entering overseas markets. They are also expanding their advertising agency and solution sales to local advertisers." Last year, the company reported revenues of 50.2 billion won and an operating profit of 8.5 billion won.
During the public offering subscription for individual investors held on June 23-24, MadUp recorded a competition ratio of 3,305 to 1. The competition ratio for institutional investors was 1,396.29 to 1.
* This article has been translated by AI.
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