On its first day of listing, Hantech saw its stock price exceed double the offering price in early trading.
Hantech's stock was traded at 24,750 won in the KOSDAQ market at 9:05 a.m. on the 20th. This is 129.17% (13,950 won) higher than the offering price (10,800 won). It even rose to 27,500 won in early trading.
Hantech also enjoyed a successful run during its initial public offering (IPO) process. According to the demand forecast results for institutional investors, 99.96% of the participation (including 0.73% without a price indication) offered prices above the upper limit of the desired offering price range (9,200 to 10,800 won).
In the subsequent public subscription of common shares, it recorded a competition rate of 1,397.21 to 1 and attracted 6.24 trillion won in subscription deposits.
Hantech started in 1973 as the machinery and equipment division of Korea Fertilizer. After being acquired by Samsung Group in 1994, it changed its name to Samsung Precision Chemical and became an independent corporation in 1998. It focuses on the design and manufacturing of heat exchangers and reactors for liquefied natural gas (LNG) power plants.
Based on the funds secured through the IPO, Hantech plans to secure new opportunities, such as the development of storage containers for spent nuclear fuel rods and liquefied carbon dioxide storage containers.