On the first day of listing on the KOSPI market, the secondary battery dry room corporation CK Solution showed an upward trend.
As of 9:37 a.m. on the 17th, CK Solution is trading at 21,150 won, which is 42.00% higher than the offering price.
CK Solution, established in 2004, primarily installs dry rooms, devices that control the moisture content in the air to enhance battery quality and yield. The company noted that it has secured three major domestic battery customers: LG Energy Solution, Samsung SDI, and SK On.
CK Solution attempted to list on the KOSPI last November but withdrew due to frozen investment sentiment in public offerings. It later reduced the offering volume and lowered the offering price to pursue the listing again.
The demand forecast for institutional investors conducted ahead of the listing recorded a competition ratio of 1,020 to 1, marking a successful debut. Consequently, the offering price was set at the highest end of the company’s desired range, 15,000 won.
The competition ratio for general investors that followed was 1,320.68 to 1. A total of 3.7 trillion won was collected in subscription deposits.
Meanwhile, CK Solution's cumulative sales for the first three quarters of last year amounted to 194.9 billion won. The operating profit was 12 billion won, and the net profit was 9.8 billion won.