South Korean artificial intelligence (AI) developer Vuno has gone public after the Korean stock market approved the company's listing.
The Korea Exchange approved Vuno's inclusion in the secondary bourse, KOSDAQ, for an initial public offering (IPO) of 37.8 billion South Korean Won ($33.5 million U.S.) through the issuance of 1.8 million shares.
The IPO was priced at 21,000 South Korean Won ($18.64) per share, which was above Vuno's desired range of 15,000-19,500 South Korean Won ($13.31-$17.31).
Vuno plans to use the funds to invest in research and development as well as hire scientists in the fields of medicine, AI, and technology. The firm also plans to build partnerships with major players in the healthcare space, Vuno said.
