Wise Planet Company, a retailer of household goods, is experiencing a strong performance on its first day of trading on the KOSDAQ, with its stock price more than tripling from its initial offering price.
As of 9:37 a.m. on September 23, Wise Planet Company shares were trading at 41,500 won, up 245.83% from the offering price of 12,000 won. Investors who received shares at the offering price have realized a profit of 29,500 won per share.
Shortly after the market opened, the stock price surged by over 280%, nearing a fourfold increase from the initial offering price, a phenomenon known as 'double doubling.' This reflects the high interest from investors that has been evident even before the listing.
Founded in 2013, Wise Planet Company sells household and beauty products, with notable brands including the filter showerhead 'Dr. Piel,' bedding brand 'Nujam,' and tone-up cream 'Irenol.' The company has expanded its business by increasing consumer awareness through social media.
The company also saw success during its public offering process, achieving a subscription rate of 1,477.65 to 1 during the general investor subscription held on September 14-15, attracting a total of 3.54 trillion won in subscription deposits.
In the institutional investor demand forecast, the company recorded a competition rate of 1,248 to 1. The strong buying interest on the first day of trading continues to highlight the appeal of the public offering market.
* This article has been translated by AI.
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