Lunit Confirms Public Offering Price at 30,000 Won... General Subscription on 12th-13th

[Asia Economy Reporter Chunhee Lee] Lunit, a medical artificial intelligence (AI) company preparing for its initial public offering (IPO), announced on the 11th that it has set its public offering price at 30,000 KRW following a demand forecast conducted on the 7th and 8th targeting domestic and international institutional investors. A total of 162 domestic and foreign institutions participated in the demand forecast, recording a competition rate of 7.10 to 1.

Initially, Lunit's expected public offering price per share was between 44,000 and 49,000 KRW, but the final price was significantly lowered. A representative from NH Investment & Securities, the lead underwriter, explained, "Many institutional investors positively evaluated Lunit's market competitiveness and future growth potential. However, the recent contraction in the stock market's investment sentiment also affected Lunit, leading us to set a market-friendly price for the public offering." The total number of shares offered is 1,215,800, with an expected fundraising amount of 36.474 billion KRW.

Lunit, established in 2013, is a company developing AI-based medical imaging diagnostic and treatment platforms. Its main products include 'Lunit INSIGHT,' an AI image analysis solution for cancer diagnosis, and 'Lunit SCOPE,' an AI biomarker platform for cancer treatment. In the technical evaluation for KOSDAQ special listing, Lunit became the first domestic healthcare company to receive AA ratings from all evaluation agencies.

Lunit plans to invest the funds raised through this IPO in product research and development (R&D) and regulatory approval processes, as well as use them for building global partnerships and operational expenses to lay the foundation for sustainable growth.

Seobeom Seok, CEO of Lunit, said, "We are grateful to the many investors who believed in Lunit's growth potential and gave positive evaluations. Through this KOSDAQ listing, we will leap forward as a global market leader with the goal of 'conquering cancer through AI.'"

Lunit is scheduled to list on the KOSDAQ market on the 21st after subscription by general investors on the 12th and 13th.

This content was produced with the assistance of AI translation services.