Madup, a global artificial intelligence (AI) marketing company, drew strong interest in its retail subscription. The subscription ratio of 3,305 to 1 tallied that day marks the highest record among companies that completed initial public offerings (IPOs) this year.
According to the investment banking (IB) industry Tuesday, Madup and its listing underwriter Mirae Asset Securities conducted the subscription for retail investors over two business days starting the previous day, Monday. The results showed that of the 500,000 shares allocated to retail investors, subscriptions for 1.65238 billion shares were received. Subscription margin deposits totaled approximately 6.6 trillion won.
The final retail subscription ratio came in at 3,305 to 1. It marks the highest record among companies that completed IPO offering procedures this year across both the KOSPI and KOSDAQ markets, with the previous record held by Polled at 3,169 to 1. Madup also recorded a subscription ratio of 1,396 to 1 in its institutional demand forecast conducted from June 12 to 18, setting its offering price at the top of the band at 8,000 won.
"We thank all investors who shared in Madup's growth potential and vision," Madup CEO Lee Joo-min said. "Based on its listing and selection for the Unicorn Bridge program, Madup will continue to build on its achievements as an 'AI marketing company' that sets a new standard in the global marketing market."
Madup plans to list on the KOSDAQ on July 1, following payment on June 26. Meanwhile, the company was selected on June 23 for the "2026 Unicorn Bridge" program organized by the Ministry of SMEs and Startups and the Korea Technology Finance Corporation. The Unicorn Bridge program is known to nurture deep-tech companies into global unicorns valued at more than 1 trillion won.
