The Korea Exchange (KRX) approved listing applications on Thursday from four companies across financial technology, pharmaceuticals, battery materials and manufacturing artificial intelligence (AI).
They include E9pay, an international money transfer company, and Innovo Therapeutics, a drug developer. CIS Chemical produces battery materials, while INTERX provides manufacturing AI solutions.
The companies can now proceed with institutional bookbuilding, final pricing and retail subscriptions before their shares begin trading.
E9pay, founded in 2007, provides overseas remittance and payment services. The company specializes in low-cost international money transfers for individuals and businesses, with services covering more than 100 countries.
It reported revenue of 64.71 billion won ($48.0 million) last year, with operating profit of 23.73 billion won and net profit of 19.59 billion won.
Innovo Therapeutics, established in 2019, develops treatments for ulcerative colitis and scarring. Its pipeline includes INV-001, a treatment for abnormal scarring that has advanced to Phase three clinical trials in South Korea. The company also uses artificial intelligence to identify new drug candidates.
The drug developer recorded revenue of 209 million won last year, alongside an operating loss of 11.05 billion won and a net loss of 5.43 billion won.
CIS Chemical, founded in 2012, produces materials used in rechargeable batteries. Its products include recycled lithium carbonate, mixed hydroxide precipitate (MHP), high-purity alumina and cathode additives. The company focuses on refining and recycling battery materials, including nickel, cobalt and lithium compounds, for use in battery production.
It posted revenue of 15.99 billion won last year, with an operating loss of 10.26 billion won and a net loss of 11.44 billion won.
INTERX, established in 2020, provides artificial intelligence transformation (AX) solutions and consulting services for manufacturers. The company uses AI and digital twin technology to monitor factory operations, predict equipment failures and improve production efficiency.
The company generated revenue of 8.65 billion won last year, while recording an operating loss of 8.28 billion won and a net loss of 20.27 billion won.
Korea Investment & Securities is the lead underwriter for E9pay, Innovo Therapeutics and INTERX, while KB Securities is handling CIS Chemical's listing.
The four companies have yet to announce their final offering prices or listing dates.
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