Wooyang HC is strong on the 28th, the first day of its SPAC (Special Purpose Acquisition Company) listing.

On Oct. 28, officials are taking a commemorative photo after presenting the listing commemorative plaque at the Wooyang HC KOSDAQ market listing ceremony held at the Korea Exchange in Yeongdeungpo-gu, Seoul. From left: Kim Dae-young, Vice Chairman of the Korea Investor Relations Association; Lee Mi-hyun, Deputy Head of the KOSDAQ Division at the Korea Exchange; Kim Jin-tae, CEO of Wooyang HC; Joo Tae-young, Head of IB Division at KB Securities; Kang Wang-rak, Vice Chairman of the KOSDAQ Association. /Courtesy of Korea Exchange

According to the Korea Exchange, as of 9:37 a.m. on that day, Wooyang HC was trading at 20,350 won, up 1,710 won (9.17%) from the reference price of 18,640 won. Wooyang HC briefly rose over 25% in early trading, reaching 23,400 won.

On that day, Wooyang HC was listed on the KOSDAQ market through a merger with KB No.26 Special Purpose Acquisition Company. Wooyang HC is a specialized corporation capable of everything from design to manufacturing in the fields of petrochemicals, refining, liquefied natural gas (LNG), and eco-friendly plant equipment. The company operates a business model based on Engineer-to-Order (ETO), executing everything from design to manufacturing, installation, and commissioning according to customer requirements.

Last year, Wooyang recorded sales of 183.249 billion won, operating profit of 30.108 billion won, and net profit of 27.432 billion won. Currently, its capital is 7.274 billion won, and after the merger, 8 individuals, including Soulbrain Holdings with 39.4%, hold a total of 76.5% of the equity.