Peace Peace Studio experienced a sharp rise in its stock price during the early trading hours of its debut on the KOSDAQ, but soon reversed course, falling below its initial public offering (IPO) price.
As of 9:48 a.m. on June 8, the company’s shares were trading at 18,480 won, down 14.05% from the IPO price of 21,500 won.
Initially, Peace Peace Studio’s stock opened at 32,000 won, 48.84% above the IPO price, and surged to as high as 42,000 won, marking a 95.35% increase. However, the stock later surrendered its gains as selling pressure emerged, leading to a downturn.
This decline appears to be influenced by a broader decline in investor sentiment across the domestic stock market. On the same day, the KOSPI index triggered a first-stage circuit breaker shortly after opening, reflecting increased volatility and a significant drop in risk appetite among investors.
Peace Peace Studio, known for its flagship brand 'Mardi Mercredi,' was established in 2020 and reported revenues of 113.777 billion won and an operating profit of 28.158 billion won last year.
During the public offering subscription for individual investors held on May 26-27, the company recorded a competition ratio of 1,194.94 to 1, attracting approximately 7.28 trillion won in deposits.
The earlier demand forecast for institutional investors was also successful, leading to the IPO price being set at the upper end of the desired range, 21,500 won.
* This article has been translated by AI.
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