The IPO will raise about 129.6 billion won ($87 million) and value the company at about 809 billion won when it lists on the KOSDAQ market on Dec. 29. The book-building ran from Dec. 10 to 16.
SemiFive, founded in 2019, designs application-specific integrated circuits for AI applications and provides end-to-end services from chip design to mass production. Its clients include AI chip developers FuriosaAI and Rebellions, as well as Hanwha Vision.
New orders rose from 5.7 billion won in 2020 to 125.7 billion won in the first nine months of 2025, surpassing the 123.9 billion won booked in all of 2024. Overseas revenue jumped to 55 billion won in the January-September period from 4.5 billion won a year earlier.
The company is the first Samsung Foundry design partner to undertake a turnkey project on Samsung's second-generation 2-nanometer gate-all-around process. Revenue from 2nm to 4nm processes rose to 41.4 percent of sales in the first three quarters from 5 percent in 2022.
"We have Big Tech-ready development experience, proprietary chip design platform technology, and end-to-end solution capabilities," CEO Brandon Cho said. "We expect to turn profitable next year."
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