Eco-friendly automotive power conversion solution corporation Motive Link has shown strength for the second consecutive day.
As of 10:05 a.m., Motive Link is trading at 21,200 won, up 20.39% from the previous day.
Motive Link, which was listed on the KOSDAQ market the previous day, closed at 17,610 won, up 193.50% from its public offering price.
In the demand forecast conducted for institutional investors before the listing, Motive Link recorded a competition rate of 1,075.5 to 1. Thanks to this, the public offering price was set at the upper limit of the company's desired range (5,100 to 6,000 won), which is 6,000 won.
The competition rate for the subscription of public offerings aimed at general investors that followed was 1,667.23 to 1. A total of 3.777 trillion won was gathered as subscription deposit.
At the initial public offering (IPO) briefing held on the 5th of this month, Kim Ki-han, representative of Motive Link, noted, "We have operated based on components for the last 50 years and have been investing in module development for the past three years," adding, "Transforming into a module company is our primary goal."
In the first to third quarters of last year before the listing, Motive Link reported revenue of 49.6 billion won, operating profit of 2.1 billion won, and net profit of 2.4 billion won.