이 기사는 2021년 12월 07일 08:05 thebell 에 표출된 기사입니다.

South Korea’s visual technology company 4by4 is seeking to go public in the first half of next year.

The company has applied for a preliminary review of its initial public offering (IPO) on the junior Kosdaq market last week, about six months after it hired Mirae Asset Securities as its lead underwriter in July.

The visual tech company is expected to offer more than 1.77 million shares in its IPO, all of which are highly likely to be new shares. Shares owned by existing shareholders such as Yoon Jun-ho, the chief executive of 4by4, and Ryu Kyung PSG Asset Management are unlikely to be included in the offering.

The startup plans to discuss the size of the IPO, corporate value, and deal roadshow schedule with its lead underwriter before the preliminary review results are announced. Mirae Asset Securities plans to sound out institutional investors at home and abroad through marketing campaigns.

Preliminary review results are expected in February 2022 at the latest, which will enable the company to list on the Kosdaq in the first half of 2022.

Founded in 2017, 4by4 provides its artificial intelligence-powered video quality enhancement solution, Pixell, which automatically enhances the video quality to 8K resolution via deep learning technology. The startup’s major clients include domestic and foreign TV makers such as LG Electronics.

4by4 is recently putting efforts into incorporating Pixell technology into the metaverse. It aims to develop various realistic virtual object contents such as trees, tables, and bowls. The company is in talks with a number of major game developers on a possible supply of metaverse assets.

The startup is also transforming into a video content trading platform. Earlier this year, it launched KEYCUTStock, a stock footage content platform where users can upload and trade their videos.

4by4 has raised funds in its pre-IPO funding from Lotte Ventures, Pearl Abyss Capital, Kiwoom Securities, and JYP Entertainment. (Reporting by Chul Kang)