Concerns about duplicate listings for KoMiCo, a company listed on the KOSDAQ, have eased, leading to a rise in the stock price on the 17th.
As of 11:45 a.m. on this day, KoMiCo is trading at 62,300 won, up 3,600 won (6.10%) from the previous trading day on the KOSDAQ market.
The reason for the strength in KoMiCo's stock price is analyzed to be due to reports that its profitable subsidiary, MiCo Ceramics, decided not to pursue an initial public offering (IPO). (☞[Exclusive] KoMiCo, profitable subsidiary MiCo Ceramics not to go public "Eased concerns over duplicate listings")
According to reports, a company official noted, "Until early this year, there was an atmosphere of preparing for MiCo Ceramics' listing, but as concerns about duplicate listings grew, we gathered opinions to not pursue an IPO."
In this regard, Choi Yong-ha, CEO of KoMiCo, also serves as the CEO of MiCo Ceramics. KoMiCo announced that following the resignation of CEO Yeom Moon-won on personal grounds on the 15th, CEO Choi has been appointed as CEO of MiCo Ceramics (concurrently).
MiCo Ceramics became a subsidiary of KoMiCo after being established through a physical division from MiCo five years ago. After attempting to list on the KOSDAQ in 2022, it withdrew its listing due to the escalating situation with LG Energy Solution at that time, but the possibility of listing has been raised again this year.
The possibility of duplicate listings for MiCo Ceramics has acted as a significant negative factor for KoMiCo's stock price. KoMiCo's stock price fluctuated between 80,000 to 90,000 won a year ago. Securities firms have suggested a target stock price of around 130,000 won, considering KoMiCo's growth potential. However, as the possibility of listing for the profitable subsidiary MiCo Ceramics has been raised, KoMiCo's stock price fell to the 30,000 won level earlier this year.