Vitzro Nextech shares jumped 151% on the first day of KOSDAQ trading on the 21st, marking a "double" compared with the offer price.
As of 9:14 a.m. on the 21st, Vitzro Nextech stock was at 17,340 won on KOSDAQ, up 151.30% (10,440 won) from the offer price of 6,900 won.
Vitzro Nextech is a supplier of space launch vehicle parts. It was established in 2016 through a physical partitioning from VITZRO TECH's special business unit. It produces equipment and components in advanced applied science fields such as aerospace, nuclear fusion, and plasma.
Vitzro Nextech built recognition by taking part in the development program of the Korean launch vehicle Nuri. It manufactured core parts for the Nuri engine, including the combustor and gas generator.
Vitzro Nextech previously conducted an IPO book-building for domestic and overseas institutional investors and set the offer price at 6,900 won, the top of the desired price range (band).
In the public subscription for retail investors in Vitzro Nextech's offering, about 2.8927 trillion won in subscription deposits flowed in. For the 1.1 million shares allocated to retail investors, a total of 838,452,560 shares were applied for. The competition rate came to 762.23 to 1.