MDEVICE, a semiconductor storage corporation, is showing strength on its first day of listing.
As of 9:34 a.m. on the 7th, MDEVICE is trading at 14,890 won, which is up 78.32% from the offering price.
MDEVICE is a semiconductor storage company established in 2009 that designs and manufactures solid-state drives (SSDs).
It handles the entire process from SSD design to assembly, inspection, and sales, dealing with both corporate and consumer products.
With increased investment in artificial intelligence (AI), the expansion of data centers is rising, which is interpreted as a factor that will increase demand for SSDs and drive up stock prices.
In the domestic institutional investor demand forecast conducted before the listing, it recorded a ratio of 1,366.65 to 1, leading to the offering price being set at the upper end of the company's desired range of 7,200 to 8,350 won.
The competition ratio for the subscription aimed at general investors afterward was 1,696.19 to 1. Subscription deposits totaled 2.23 trillion won.
For the first to third quarters of last year, MDEVICE's revenue was 36 billion won, and net profit was 1.1 billion won.