Green Optics, a company specializing in ultra-precision optical systems, was strong early on the 17th, its first day of listing on the KOSDAQ market.
As of 9:10 a.m. that day, Green Optics was trading at 34,100 won, up 18,100 won (113.13%) from the offering price (16,000 won). It achieved a "double" (twice the offering price) right after the open.
Green Optics recorded a competition rate of 962.34 to 1 in its book-building for institutional investors conducted from the 28th of last month to the 3rd of this month. A total of 2,196 domestic and overseas institutions participated, and the offering price was set at 16,000 won, the top end of the desired range (14,000–16,000 won).
In the public subscription for retail investors held over two days on the 6th and 7th of this month, the competition rate was 1,199.94 to 1. About 4.8 trillion won in subscription deposits was collected.
Founded in 1999, Green Optics has internalized all optical processes, including lens machining, polishing, coating, alignment, and electronic control. To stand shoulder to shoulder with global optical companies such as Zeiss of Germany and Nikon of Japan, it has built an integrated production system from materials to systems.
Green Optics' performance is on a growth trajectory. Last year's sales were 31.4 billion won, up 17% from a year earlier, and the export share expanded from 13.3% to 25.6%. The order backlog is 62.3 billion won, and the research and development investment ratio is 28.9%. The company said it aims to expand its application areas beyond defense to aerospace, semiconductors, and displays—advanced industries—to achieve 91.3 billion won in sales and an operating margin of 30% or more by 2027.