Spaceflight venture Innospace eyes July Kosdaq IPO

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It will receive subscriptions from retail investors on June 20 and 21 with Mirae Asset Securities Co.as the lead manager.“We have proved our competitive edge in technologies with the successful launch of test projectile HANBIT-TLV in March last year,” said Kim.“Space launch vehicles that transport satellites, people and goods are necessary for data service and space tourism using Earth observation satellites.

Innospace will become the standard of space mobility platforms,” the CEO added.The startup has won $12.6 million worth of orders from four overseas clients, including Apogeo Space, an Italian satellite connectivity tech firm, Federal University of Maranhão (UFMA) and Castro Leite Consuloria (CLC) in Brazil and a company of which name is undisclosed.

South Korean spaceflight startup Innospace, which fired the country’s first private launch vehicle last year, aims to list on the Kosdaq in July with up to 406.2 billion won ($294 million) in market cap, the largest among the companies that have debuted on the junior bourse so far this year.

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Category: Economy

Markets: South KoreaBrazilFrancePolandUnited Arab Emirates

Topics: Aerospace Company Innospace Space Billion Satellites Launch Startup Last Tech Year

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News Sentiment: Positive

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Article Type: News Report

Published On: 2024-06-18 @ 14:11:55 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

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