Shares were trading at 28,550 won as of 10:21 a.m. on Tuesday, up 132.11% from the IPO price of 12,300 won, according to the Korea Exchange.
The exchange approved Chaevi’s KOSDAQ listing on April 27 and began trading on Tuesday. Newly listed shares are not subject to the volatility interruption mechanism, known as VI, on the first day, which can lead to larger price swings.
Founded in 2016, Chaevi operates an EV charging infrastructure business based on electric motors and generators and electric conversion, supply and control equipment. It is known as the first domestic EV charging infrastructure company to pursue an initial public offering.
In institutional demand forecasting held April 10-16, 751 institutions participated, posting a 55-to-1 competition ratio. In the retail subscription held April 20-21, the competition ratio was 302-to-1.
The IPO price was set at 12,300 won, the bottom of the indicated range of 12,300 won to 15,300 won.
* This article has been translated by AI.
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