Korea Business News Agency - NSP NEWS AGENCY.

(Image = Innogrid)

(Seoul=NSP NEWS AGENCY) = Innogrid, a cloud computing and digital transformation (DT) company, initiated the initial public offer (IPO) process on the KOSDAQ market by submitting a registration statement on February 22.

It met technology special listing requirements by acquiring A and BBB grades for its technology from NICE Information Service and KEIT last year.

The shares to be issued will be 600,000, pricing from 29,000 to 35,000 won. The funds raised from the public offering will be about 21 billion won (if shares are issued at 35,000 won).

The company will set the initial share price by conducting demand forecasts for institutional investors for five days from March 12 to March 18. Then, it will accept an Indication of Interest (IOI) from March 20 to March 21 and go public at the end of March. Korea Investment & Securities took the lead underwriter.

The CEO of Innogrid said, “The fund raised from the upcoming IPO will be invested in advancing our AI-driven intelligent hybrid cloud solution, operating cloud-based data center project, and building CSAP public service zone and operation center. Thus, we will lead the Korean cloud ecosystem.”

By Hyun-jin Kim(kimhj30310@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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