NH SPAC No. 32 rose 140% in early trading on the 5th, its first day on the KOSDAQ.
As of 9:33 a.m., NH SPAC No. 32 is transaction at 4,800 won, up 2,800 won (140.00%) from the offer price of 2,000 won.
A SPAC (special purpose acquisition company) is a shell company established solely for acquisitions and mergers. It must merge with a high-quality unlisted company within three years. If it fails to find a merger target, it is automatically delisted.
NH Investment & Securities, the lead manager, said NH SPAC No. 32 posted a subscription competition rate of 210.23 to 1 in its public offering for retail investors held from the 24th to the 25th of last month. It raised about 541.3 billion won in subscription deposits.
Target sectors for NH SPAC No. 32's merger include renewable energy; biopharmaceuticals (resources) and medical devices; IT convergence systems; green transportation systems; carbon reduction energy; advanced water treatment; advanced green cities; broadcasting and telecommunications convergence; robotics applications; new materials and nano convergence; high value-added foods; and entertainment.