KGA is showing a strong gain of over 10% in early trading on the 17th, its first day of listing as a special purpose acquisition company (SPAC). KGA was listed on the KOSDAQ market on this day through a merger with Samsung SPAC No. 9.
As of 9:24 a.m. on this day, KGA is being traded at 6,820 won, up 670 won (10.89%) from its listing price. After starting with a strong gain of over 10% right after the market opened, the stock price is showing significant fluctuations.
Founded in 2017, KGA is developing secondary batteries, including lithium iron phosphate (LFP) and nickel cobalt manganese (NCM) for existing lithium-ion battery equipment and all-solid-state batteries. As a next-generation business, it is preparing a humanoid power solution.
The funds raised through the listing are planned to be invested in strengthening production capacity and research and development (R&D) of new products. KGA's consolidated revenue last year was 51.43 billion won, and operating profit was 3.4 billion won.