KOSDAQ-listed ROKIT Healthcare rose in early trading on the 14th. Buying appears to be flowing in on news that it will set up a joint venture (JV) with an investor in the United Arab Emirates (UAE).
As of 9:27 a.m. that day, ROKIT Healthcare was trading at 102,000 won, up 5,400 won (5.59%) from the previous session.
ROKIT Healthcare, a company specializing in an artificial intelligence (AI) organ regeneration platform, said before the regular session opened that day that it signed a strategic business agreement with Master Investment Group (MIG), an investment institution affiliated with the UAE royal family, for direct equity investment and the establishment of a UAE joint venture.
Based on this agreement, the two companies agreed to sign the main investment contract as soon as possible and begin procedures to establish a local plant and a joint venture. For the planned Middle East joint venture "ROKIT MENA (tentative name)," MIG will invest about 30 billion won in capital, and ROKIT Healthcare will make an in-kind contribution of its core AI organ regeneration platform technology as a technology investment.
A ROKIT Healthcare official said, "With this large-scale investment and the establishment of the JV as a starting point, ROKIT Healthcare will leap forward as a game-changer leading the global AI organ regeneration field."