Shares traded at 34,100 won ($25.58) as of 9:40 a.m., up 100.59 percent from their IPO price of 17,000 won. The stock opened at 21,350 won and rose as high as 37,400 won, 120 percent above its offering price, before paring some of its gains.
Retail investor demand was strong during the Oct. 22-23 public offering, with bids reaching 684.73 times the shares available and generating roughly 3.29 trillion won in deposits.
Institutional demand was also strong. Domestic and overseas institutional investors submitted 2,276 bids, generating demand 1,000.07 times the shares available. The IPO price was set at the top of the proposed range of 14,000 won to 17,000 won.
Founded in 1962, YoungKwang designs and manufactures large equipment and modules used in shipbuilding, offshore facilities and industrial plants. Its main products include ship engine-room modules, hull sections, pressure vessels and heat exchangers used in industrial processing facilities.
The company handles major manufacturing processes in-house, including piping, steel fabrication, welding and assembly, allowing it to deliver fully assembled equipment and modules.
YoungKwang is also expanding its business into new energy sectors, including small modular reactors (SMRs), hydrogen power and electricity infrastructure in North America, alongside its existing shipbuilding and industrial plant operations.
The firm reported revenue of 113.1 billion won and an operating profit of 12.3 billion won in 2025. It plans to use proceeds from its IPO to expand production facilities, strengthen research and development and develop equipment for emerging energy markets.
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