Expected fundraising this month is estimated at 400 billion won (US$299 million) to 450 billion won. An early-September estimate by Eugene Investment & Securities put the combined market capitalization of companies expected to list at 2.1 trillion won to 2.7 trillion won.
The number of new listings is also set to increase. Eight to 11 companies are expected to go public this month. They include Neosapience, an AI company behind the Typecast voice-generation platform, and BRILS, a robotics and automation solutions provider. Wise Planet Company, a marketing and media-commerce company, is also among the candidates.
Only one company listed in September last year, while six made their debuts in August.
The market was much weaker just a month ago. Only six companies listed in August, raising a combined 210.6 billion won, about one-third of the historical August average of 595.8 billion won.
September also brings larger offerings. AI coding education platform operator Elice Group is expected to raise about 156.4 billion won.
Beyond the larger deals, AI and robotics companies are also drawing investor interest.
Bigwave Robotics, which provides industrial robotics and physical AI solutions, is conducting institutional bookbuilding through Friday. The process allows institutional investors to submit bids before the company sets its final IPO price and proceeds with the listing.
Neosapience, which develops AI-based voice and content generation technology, completed institutional bookbuilding this week and is taking retail subscriptions on Thursday and Friday. Its IPO price was set at 10,000 won, with the company scheduled to list on the KOSDAQ on Sept. 21.
Another AI company, Lablup, which develops infrastructure software for AI computing, plans to begin institutional bookbuilding on Sept. 28 and continue through Oct. 2. It is targeting an October listing.
A broader mix of AI and robotics companies could give investors more choices and support the market's recovery.
Several of South Korea's best-known private technology and consumer companies are accelerating preparations for listings.
Fashion platform Musinsa has already filed for a preliminary KOSPI listing review and is widely expected to pursue a market debut in 2027.
AI chipmaker Rebellions is also targeting a KOSPI listing next year after pushing back its original timetable. The company plans to complete filing preparations by the end of 2026.
MegazoneCloud also remains in the IPO pipeline, while Wrtn Technologies has begun selecting underwriters for a potential listing after 2027.
AJP Takeaways
- South Korea's initial public offering scene is showing signs of a September 2026 recovery, with as many as 11 companies preparing to go public. Artificial intelligence and robotics firms including Neosapience, BRILS and Bigwave Robotics are emerging as a major source of new listings.
- September 2026 IPO fundraising is estimated at 400 billion won (US$299 million) to 450 billion won, while the combined market capitalization of prospective listings was projected at 2.1 trillion won to 2.7 trillion won.
- An AJP analysis of Korea Exchange monthly data found that September listings averaged about 2.73 trillion won in combined market capitalization from 2021 through 2025.
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