Rayence to go public in April

Rayence, a manufacturer of detectors for digital X-rays, plans to get listed in April on Korea’s tech-heavy secondary bourse KOSDAQ, the company said Thursday.

The company said it filed a registration statement for an initial public offering to sell 4 million shares in an expected price range of 22,000 won ($17.8) to 25,000 won per share. 

The subsidiary of a Korean X-ray manufacturer Vatech, it provides imaging solutions for medical, dental, veterinary, and industrial X-ray applications.

In 2013, GE’s health care unit bought the mammography assets of Rayence for an undisclosed sum.

According to Rayence, it posted 86.6 billion won in sales and 19.7 billion won in operating profit in 2015.

Local brokerage Daishin Securities is managing Rayence’s share offering.

By Park Han-na (hnpark@heraldcorp.com)