South Korea’s JLK Inspection is seeking initial public offering (IPO) in the local market under a special rule enabling money-losing yet promising startups to go public.

The artificial intelligence-based medical and security solution provider said on Monday it has started an official process to go public on the Kosdaq market by completing its document filing. It hopes to raise maximum 29 billion won ($25 million) by offering 2 million shares in the IPO to be managed by Korea Investment & Securities. Its IPO price band is set up between 11,000 won and 14,500 won apiece.

The IPO price will be fixed during a book-building session due on Nov. 26-27. Public subscriptions will take place on Dec. 2-3, and listing is scheduled within this year.

Founded in 2014, JLK Inspection features AI platform AIHuB created by a combination of big data, experts, and its own unique engines and algorithms to provide on-site/real-time services connected to all systems built in the hospital and meet the professional needs of physicians to diagnose diseases fast.

By Pulse

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