On the 7th, INNOTECH, newly listed on the KOSDAQ market, succeeded in a "double-double" (four times the offer price).
As of 9:13 a.m. that day, INNOTECH was trading on the KOSDAQ market at 55,800 won, up 41,100 won (279.59%) from its offer price (14,700 won). Right after the open, it surged to as high as 58,800 won, logging a 300% gain.
INNOTECH, a corporations specializing in composite reliability environmental test equipment, recorded a competition rate of 1,072 to 1 in a book-building for institutional investors held from on the 16th to the 22nd of last month. A total of 2,227 domestic and overseas institutions participated. The offer price was set at the top end of the desired range (12,900–14,700 won), at 14,700 won.
In the retail subscription for the IPO shares held over two days on the 27th–28th of last month, the competition rate was 2,427.23 to 1. About 7.8496 trillion won in deposit money for subscriptions was collected.
INNOTECH plans to use the funds secured through this offering for ▲ development of equipment responding to new industries (semiconductors, secondary batteries, etc.) ▲ strengthening infrastructure to serve global customers ▲ expanding investment in research and development (R&D).
Founded in 2013, INNOTECH is a corporations specialized in developing and manufacturing reliability environmental test equipment and special test equipment, focusing on composite reliability environmental test equipment. Composite reliability environmental test equipment are core facilities that verify whether electronic products and components experience performance degradation or defects under harsh conditions, playing an essential role in stable mass production in key industries such as semiconductors and secondary batteries.