Neosapience, a generative artificial intelligence (AI) company, is experiencing a significant decline in its stock price following its listing on the KOSDAQ, nearing its initial public offering (IPO) price. After opening above 36,000 won on its first day, the stock has now fallen to the 12,000 won range.
As of 10:08 a.m. on October 8, Neosapience shares were trading at 12,580 won, down 630 won (4.77%) from the previous day.
Neosapience was listed on the KOSDAQ on September 21, where it reached a peak of 36,900 won (based on the closing price at 8 p.m.). This was 269% higher than the IPO price of 10,000 won. However, the stock has since plummeted, now down 65.9% from its initial trading price.
The decline has been particularly steep, with drops of 13.12% and 19.35% on September 22 and 23, respectively, followed by further declines of 20.16% and 19.35% on September 28 and 29. The downward trend has continued into October, with decreases of 16.78% on October 6, 7.93% on October 7, and over 4% today.
The gap between the current stock price and the IPO price has narrowed significantly, with the current price now just 25.8% above the IPO price. This indicates that a substantial portion of the initial surge in stock value has been relinquished.
Previously, Neosapience recorded a competition rate of approximately 220 to 1 in its demand forecast for institutional investors, but set its IPO price at the lower end of the desired range of 13,800 to 15,800 won, at 10,000 won. In the subsequent subscription for individual investors, the company saw a competition rate of about 1,048 to 1, attracting around 2.6 trillion won in deposits.
Founded in 2017, Neosapience operates a content creation platform called Typecast, which utilizes voice synthesis technology. The platform allows users to input text and generate video and audio content with natural-sounding voices and emotions.
* This article has been translated by AI.
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