Newly listed stocks in the KOSDAQ market are experiencing a sharp decline as of the early hours of the 20th. It seems that investors have moved to realize revenue as stock prices have risen significantly compared to the public offering price.
As of 9:26 a.m. on this day, Samyang Comtech shares are trading at 13,180 won, down 12.72% (1,920 won) from the previous trading day in the KOSDAQ market.
At the same time, S&SYS shares are also trading down 12.11% (5,450 won) at 39,550 won in the KOSDAQ market compared to the previous trading day.
Both Samyang Comtech and S&SYS are newly listed stocks that have not been on the market for long. S&SYS, which listed the previous day, finished the day at 45,000 won, up 50% (15,000 won) compared to the public offering price of 30,000 won.
Samyang Comtech, which went public on the 18th, saw its stock price rise 116.10% (8,940 won) compared to the public offering price of 7,700 won on its first day, recording a 'double'. However, since then, the stock price has been declining significantly for two consecutive trading days.
The two stocks are also related to the shipbuilding and defense sectors, which have been attracting investor interest recently. S&SYS is a ship equipment solutions company established in June 2017, spun off from the electrical and electronics division of Samsung Heavy Industries.
Founded in 1962 under the name 'Oriental Industry', Samyang Comtech is the first company in Korea to develop bulletproof vests. After going through mergers and acquisitions in 2006, it now provides comprehensive bulletproof solutions covering ground and aviation equipment and personal protection.