Artificial intelligence (AI) service platform company Lutent Technologies has officially begun preparations for its initial public offering (IPO). The company has selected Mirae Asset Securities as its lead underwriter and aims to initiate the listing process with a target of filing for preliminary review next year.
Lutent announced on September 23 that it has chosen Mirae Asset Securities as the lead underwriter and NH Investment & Securities as the co-underwriter for its IPO.
In August, Lutent secured 100 billion won in Series C funding, which recognized its corporate value at 1 trillion won in the AI service sector.
After officially announcing the start of its IPO process earlier this month, Lutent has been working on selecting underwriters. The company plans to coordinate details such as the listing schedule with its underwriters.
Kim Jin-tae, head of the IPO division at Mirae Asset Securities, stated, “Lutent has demonstrated explosive growth in the AI service sector, proving its unique market competitiveness. We will do our utmost to ensure a successful IPO, as it is showing a solid J-curve growth trend.”
Lutent is proceeding with its IPO process with the goal of filing for preliminary review next year.
CEO Lee Se-young remarked, “Our global services are driving overseas sales to surpass domestic revenue, proving Lutent's competitiveness on the world stage. We aim to elevate Lutent from a leading AI startup in South Korea to a global AI enterprise through our capital market listing.”
* This article has been translated by AI.
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