Battery diagnostic company MinTech said on Friday that it made security filings to financial authorities to list on the Kosdaq.
The company is offering 3 million shares with a price per share between 6,500 won and 8,500 won.
MinTech hopes to raise 19.5 billion won through the listing and a valuation of between 158.4 billion won to 07.1 billion won.
KB Securities is underwriting the deal and orders for institutional investors will run for five days starting on March 7 and for regular investors from March 19 to 20.
MinTech was founded in June 2015 and offers electrochemical-based impedance analysis and diagnostic solutions.
The company has touted its electrochemical impedance spectroscopy (EIS) analysis and AI-based Gen 3 battery diagnostic technologies.
These technologies are implemented in various hardware with different specifications.
Its Gen 3 battery diagnostic system can detect defects and the kind of defects throughout the whole four stages of a battery’s life cycle; cell production, pack production, use, and disuse. MinTech said it has its self-developed algorithm with a confusion matrix under 5%.
Some of the company’s investors are LG Energy Solution, GS Energy, Posco Venture Capital, and EcoPro Partners.
