Hatch Tech, a fabless semiconductor sensor company, has seen its shares plummet over 20% on its first day of trading on the KOSDAQ.
As of 9:35 a.m. on the 25th, Hatch Tech's stock was trading at 17,960 won, down 5,040 won (21.91%) from its initial public offering price of 23,000 won, according to the Korea Exchange.
The company made its debut on the KOSDAQ today.
During the demand forecast for institutional investors held from August 3 to 7, 321 institutions participated, resulting in a competition rate of 101.91 to 1. The final offering price was set at the lower end of the proposed range of 23,000 to 28,000 won.
Of the institutions, 57.9% offered prices above the upper limit of the proposed range.
In the subscription for individual investors held over two days starting August 12, the competition rate was 25.73 to 1. A total of 6.43 million shares were subscribed, with the subscription deposit amounting to approximately 73.9 billion won.
Hatch Tech plans to use the 23 billion won raised from this IPO for research and development investments, aiming to expand its business into high-precision and high-value markets such as robotics, data centers, mobility, and healthcare.
CEO Choi Sung-min stated, “Through this listing, we aim to secure customer trust and strengthen Hatch Tech’s technological capabilities with the funds raised. We will also accelerate our growth through active mergers and acquisitions as needed.”
* This article has been translated by AI.
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