Artificial intelligence (AI) provider Lunit plans to go public in July with an initial public offering (IPO) of 1.1 million shares.
Lunit expects the shares will be offered in the range of $34 to $38 per share. The exact price will be determined after recording the demand of institutional investors on July 7-8. Retail buyers can take part in the public subscription during July 12-13, according to the vendor.
Lunit intends to list its common stock on the Korea Exchange's second bourse, KOSDAQ, under the ticker code "A32813." Based on the low end of the targeted range, Lunit expects to raise about $42 million. The company said it plans to spend the capital to finance global market development and research and development of its AI software.
