LS SPAC 1, which was listed on the KOSDAQ market as a special purpose acquisition company (SPAC) on the 22nd, is showing a rise of more than 100% on its first day of trading.
As of 9:25 a.m. on that day, LS SPAC 1 is trading at 4,500 won, up 2,500 won (125%) from its offering price.
LS SPAC 1 is the first SPAC corporation launched after IBEST Investment Securities was incorporated into LS Group and rebranded as LS SECURITIES. A SPAC is a nominal company established for the purpose of mergers and acquisitions (M&A); it does not operate like a regular corporation and will be delisted if it fails to find a target company for merger within three years.
LS SECURITIES aims to enhance its capabilities in the initial public offering (IPO) market with the launch of the LS SPAC brand. It is expected to strengthen its investment banking capabilities at the group level.