Eco-friendly energy solution corporation WONIL T&I saw its shares rise more than 80% on the first day of trading on the KOSDAQ market.
As of 9:14 a.m. on the 9th, WONIL T&I is trading at 24,450 won, up 10,950 won (81.11%) from its offering price of 13,500 won. In the early trading, shares rose to 28,600 won, successfully achieving a "double" compared to the offering price.
WONIL T&I recorded a competition rate of 1,308.07 to 1 in the demand forecast conducted for institutional investors from the 16th to the 22nd of last month. A total of 2,390 domestic and foreign institutions participated, and the offering price was finalized at 13,500 won, the upper end of the proposed range (11,500 to 13,500 won).
The subscription for general investors held over two days on the 24th and 25th showed a competition rate of 1,312.21 to 1. Approximately 2.65 trillion won was collected as subscription deposits.
Founded in 1998, WONIL T&I provides solutions for the entire process of producing, distributing, storing, and applying eco-friendly energy through the localization of its products. The company is the exclusive domestic supplier of "BOG re-liquefaction units" that mix evaporated gas with liquefied natural gas (LNG) for re-liquefaction.
The funds secured from the listing will be utilized for facility investments to promote long-term revenue and profitability growth. The company also plans to continue active overseas sales and research and development through validation to respond to changes in the energy infrastructure market.