Korean startup Lunit, a global provider of AI-powered cancer solutions, made its stock market debut on the South Korean KOSDAQ under the ticker “A32813” on July 21.
Lunit’s initial public offering of 1,215,800 shares of its common stock was priced at KRW 30,000 (US$ 23) a piece. Shares closed at the upper limit price, KRW 40,000 (US$ 30.5), surging 29.87% in its debut.
Lunit expects to raise approximately KRW 36.4 billion (US$ 28 million). Lunit intends to use the proceeds for R&D of its new AI products and global market development.
“I sincerely appreciate everyone who supported us through the entire IPO journey, especially our investors, stakeholders, and team Lunit,” said Brandon Suh, CEO of Lunit.
“The IPO itself is a remarkable accomplishment. But we will step forward towards our bigger goal of strengthening our technological innovation and business development and securing an unrivaled position in the market. We will also strive to optimize our stakeholders’ value. And above all, we will continue on our mission to conquer cancer through AI.”
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