The stock price of Korea Advanced Materials, considered a quantum computing-related stock, is hitting the ceiling price.
According to the Korea Exchange on the 27th, at 9:39 a.m., Korea Advanced Materials is trading at 4,270 won, up 985 won (29.98%) from the previous trading day. The stock, which rose over 12% the previous day, hit the price limit right after opening, recording its highest price in a year.
This is interpreted as a result of quantum computing-related corporations showing strength in the U.S. New York stock market the previous day. Overnight, Rigetti (36%) and Quantum (24%) closed strong, and the QTUM exchange-traded fund (ETF), which contains quantum computing-related corporations, showed a gain of 57.85% this year.
Before the market opened that day, Korea Advanced Materials also stated that the overall subscription competition ratio for the rights offering conducted from the 23rd to the 24th was recorded at 792.1 to 1. The total subscription deposit amounted to approximately 1.5979 trillion won.
This rights offering is a shareholder allocation rights offering to recruit a total of 9,868,409 shares, with the subscription rate for existing shareholders recorded at 83.02%. For the general subscription rights offering of 1,675,529 shares, a total of 1.32722 billion shares were received. Among these, retail investors subscribed for 1.27797 billion shares, high-risk high-return investment trusts for 28.2 million shares, and venture capital trusts for 21.05 million shares.
The payment date for the new shares of this rights offering is set for the 27th, and the listing date for the new shares is scheduled for January 16, 2025.