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Home Startup Health & Bio

Medical AI startup Lunit makes KOSDAQ debut with 28.7% surge in stock price

by KoreaTechDesk Writer
July 22, 2022
in Health & Bio
1
Lunit Ipo

Executives and guests of Lunit celebrating the Initial Public Offering at the Korean Exchange,

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.

Lunit Ipo
Brandon Suh, CEO of Lunit, beating a drum in celebration of the Initial Public Offering at the Korean Exchange

“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.”

Also Read, 

  • Lunit’s AI Cancer Screening System to be used at Southeast Asia’s largest hospital in Thailand
  • Lemon Healthcare to retry for IPO in 2023 after getting a $13 million Series C investment 
  • Korean startup Intake selling sustainable food alternatives to launch IPO in 2024
  • Zigbang attracts 100 billion won ($77 million) pre-IPO investment
Tags: AI-powered cancer solutionsIPOKosdaqListingLunitMarket price
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