JusTech, a company specializing in ultra-precise motion control solutions, saw its stock price surge over 200% on its first day of trading on the KOSDAQ.
As of 9:38 a.m. on June 29, the Korea Exchange reported that JusTech's shares were trading at 41,000 won, up 28,500 won (228.00%) from its initial public offering price of 12,500 won. During the trading session, the stock reached a high of 42,500 won.
Earlier, JusTech set its IPO price at the upper end of its proposed range of 9,500 to 12,500 won during a demand forecast for institutional investors held from June 8 to 12. According to the company, 99.9% of participating institutions offered prices above the proposed upper limit.
In the general subscription held on June 18 and 19, JusTech recorded a competition rate of 2,783.89 to 1, attracting significant interest from investors.
JusTech supplies key components and systems used in semiconductors, displays, industrial automation, and aerospace equipment, based on its ultra-precise motion control technology.
CEO Choi Dong-soo stated, "We will accelerate our entry into the global market, starting with Japan, in addition to the domestic market. We aim to continue our growth as a global total motion solution specialist."
The company plans to use the funds raised from the IPO to expand its semiconductor client base and develop the aerospace sector as a new growth driver.
* This article has been translated by AI.
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