NH SPAC 34 has surged over 106% on its first day of trading on the KOSDAQ market.
As of 2:27 PM on September 10, the stock was trading at 4,125 won, up 2,125 won (106.25%) from the previous trading day, according to the Korea Exchange.
NH SPAC 34 debuted on the KOSDAQ today with an initial public offering price of 2,000 won, opening at 4,000 won. During the trading session, it reached a high of 5,700 won, marking a 185% increase from the IPO price.
The company is a special purpose acquisition company (SPAC) established to merge with a private firm. If it fails to find a merger target within three years of its listing, it will face delisting procedures.
NH Investment & Securities managed the listing, with 8.5 million shares offered, raising 17 billion won. The total number of shares listed is 9.05 million, and the IPO funds are fully deposited with Kookmin Bank.
NH SPAC 34 has identified key industries for potential mergers, including renewable energy, biopharmaceuticals and medical devices, IT convergence systems, robotics, new materials and nanotechnology, automotive parts, and IT semiconductors. However, no specific merger targets have been determined yet.
As a newly listed stock, NH SPAC 34 can trade within a range of 1,200 to 8,000 won, which is 60% to 400% of the IPO price. A volatility control mechanism (VI) is not applied on the first day of trading.
* This article has been translated by AI.
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