Neoview shares fell nearly 30% on their first day of trading on the KOSDAQ. The decline is attributed to a surge in profit-taking sales immediately after the listing, which dampened investor sentiment.
According to the Korea Exchange, as of 9:50 a.m. on July 27, Neoview was trading at 18,270 won, down 7,330 won (28.63%) from its reference price. The trading volume reached 778,781 shares.
Neoview was re-listed on the KOSDAQ market today, with a reference price set at 25,600 won before the market opened. However, heavy selling pressure in the early trading session quickly widened the losses.
Neoview is a newly established company formed by the spin-off of the automotive display division from display specialist Tobis. Following the split, Tobis will focus on casino and industrial display businesses, while Neoview will concentrate on automotive displays. The company aims to enhance its corporate value through this spin-off strategy by increasing specialization in its respective business areas.
The Korea Exchange approved Neoview's re-listing on July 23. On the same day, Tobis underwent a change in listing, and Neoview began trading. Tobis shares also experienced a decline of about 10% from their initial price, likely due to a concentration of existing shareholders' sell-offs, which has increased stock price volatility.
* This article has been translated by AI.
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