The special purpose machinery manufacturer AI KOREA saw its stock price decline in early trading on the first day of its debut on the KOSDAQ market on the 29th.
As of 9:08 a.m. on that day, AI KOREA was trading at 14,740 won, down 1,950 won (11.68%) from the base price of 16,690 won.
AI KOREA went public on the KOSDAQ market through a merger with Korea's 14th Special Purpose Acquisition Company. Major products include the supply system for electrolyte in secondary batteries. Previously, AI KOREA had submitted a preliminary listing application to the Korea Exchange in 2023 but voluntarily withdrew from the listing.
Founded in 2003, AI KOREA specializes in developing and manufacturing automated equipment for advanced industries such as secondary batteries, robotics, and displays. Last year, it recorded a revenue of 114.5 billion won on a consolidation basis, setting a record for its highest performance, while achieving an operating profit of 8.8 billion won during the same period.
The funds secured through this listing are expected to be used for research and development costs to enhance core products such as robotics and for operating funds to expand orders.
An AI KOREA representative noted, "With the KOSDAQ listing, we plan to further increase market share in our core institutional sectors and accelerate performance in new business areas such as robotics and ammonia crackers."