Global Technology and Big Wave Robotics both surged in their KOSDAQ trading debuts.
As of 9:23 a.m. on the 29th, Global Technology traded at 28,350 won, up 183.5% from its initial public offering price of 10,000 won, according to the Korea Exchange. Big Wave Robotics stood at 55,400 won at the same time, a 207.8% jump from its IPO price of 18,000 won. Both stocks climbed to roughly three times their offering prices in early trading.
Global Technology, a fabless system semiconductor company, set its final IPO price at 10,000 won after drawing bids of 123.19 times the shares on offer in its book-building for institutional investors. The retail subscription was 57.15 times oversubscribed. Revenue in the first half of this year rose about 88% from a year earlier to 28.8 billion won, while operating profit swung to a profit of 1.16 billion won.
Big Wave Robotics, a robot platform company, drew strong investor interest from the offering stage. Institutional demand was 1,109 times the shares available, and the IPO price was set at 18,000 won, the top of its indicative range. The retail subscription was 1,375 times oversubscribed, attracting about 4.95 trillion won in deposits. The company operates Marosol, a robot automation platform, and Sollink, an integrated control platform.
More listings follow this week after the two debuts. Duksan Nepcore, a defense and aerospace company, lists on the KOSDAQ on the 30th, followed by Brills, a robot modularization platform company, on Oct. 1. A total of four companies will list on the KOSDAQ during the week, the most so far this year.
