The red-ink artificial intelligence company ‘MachinaLax’ confirms the issuance price…… Competing with fashion consumer goods companies in an IPO showdown

The new stock issuance market in the second week of May will continue the same schedule as last week, with the sequential public subscription of one new stock and demand forecasting for another. Against the backdrop of a selectively investing atmosphere currently present in the new stock issuance market, this week will see an artificial intelligence technology company and a fashion consumer goods company both undergo investor evaluation.

The company conducting the public subscription is MakinaRocks, an industry-specific artificial intelligence developer. According to financial investment industry sources, the company will accept subscriptions from general investors from May 11 to 12. Founded in 2017, MakinaRocks is a company that develops AI solutions and platforms applicable to manufacturing and industrial sites. Last year, the company’s consolidated sales were 8.3 billion Korean won, with an operating loss of 10.9 billion Korean won. Although profitability remains in the red, given that this is a growth-oriented company with a financial structure centered on R&D and business expansion, the market is simultaneously paying attention to its technological strength and the potential for future order growth.

The company has gained external recognition for its technological competitiveness. In August last year, it was selected as the executor of a machine learning security operation project for the defense AI weapon system promoted by the Korea Defense Science Research Institute. Additionally, its self-developed AI platform “Runway” was the only Korean company selected in the “Artificial Intelligence Development Platform” field on the machine learning operation market map published by CB Insights, an American AI analysis organization, in 2024. Demand forecasts for institutional investors were conducted from April 28 to May 6, with the final public offering price set at the upper limit of the desired range (12,500 won to 15,000 won), at 15,000 won. The expected listing date is May 20, with Future Asset Securities serving as the lead underwriter.

The company conducting demand forecasting is Piecepiece Studio. It will conduct demand prediction for institutional investors from May 14 to 20 to determine the offering price. The desired price range is 19,000 won to 21,500 won. Piecepiece Studio is a retailer of textiles, apparel, footwear, and leather goods, widely known for its flagship brand “Mardi Mercredi.” Although it is a relatively young company founded in 2020, last year’s consolidated sales reached 113.77 billion Korean won, with an operating profit of 28.15 billion Korean won, demonstrating its scale and profitability. Unlike the tech growth stock MakinaRocks, this is a consumer goods company with actual performance undergoing investor demand testing, creating a contrast.

After completing the demand forecast, Piecepiece Studio will conduct a public subscription from May 26 to 27, with payments due on the 29th. NH Investment & Securities and Future Asset Securities are the lead underwriters. Although this week’s new stock issuance schedule is not numerous in terms of quantity, the simultaneous evaluation of a loss-making tech company and a profitable consumer goods company may serve as a litmus test for investor preferences. This trend could also lead the future new stock issuance market away from simply chasing hot industries toward more detailed scrutiny of technological competitiveness, performance stability, and reasonable issuance prices.