Autocrypt CI.

On the first day of its listing on the KOSDAQ market, Autocrypt showed an upward trend early on the 15th.

As of 9:08 a.m. on the same day, Autocrypt was trading at 33,250 won, up 11,250 won (51.14%) from the public offering price of 22,000 won.

Autocrypt recorded a competition rate of 995.34 to 1 in the demand forecasting conducted for institutional investors from the 24th to the 30th of last month. A total of 2,403 domestic and international institutions participated, and the public offering price was confirmed at the upper end of the indicative range at 22,000 won.

In the public offering subscription for general investors held over two days on the 3rd and 4th of this month, a competition rate of 1,406.42 to 1 was observed. Approximately 5.4147 trillion won was collected as subscription deposits.

Established as a spin-off from Penta Security Systems in 2019, Autocrypt primarily engages in the development and supply of vehicle security solutions.

The company has currently signed production contracts with about 40% of 21 global completed car brands and the top 30 global parts manufacturers, supplying vehicle security software and certification response solutions. It is also involved in the V2X business, which focuses on external communication security for autonomous driving infrastructure.

Autocrypt plans to strategically invest the public offering funds raised through its listing in expanding its global pipeline and acquiring new Technical Service (TS) certification qualifications.

Kim Deok-soo, the CEO of Autocrypt, said, "With the KOSDAQ listing as an opportunity, we will expand our global order pipeline and proactively respond to the ever-tightening vehicle software security regulations, becoming a leading corporation in the global security industry."