FESCARO, a vehicle integrated security platform specialist, succeeded in a "double (twice the offering price)" on its first day of listing on the KOSDAQ market on the 10th.
As of 9:09 a.m. that day, FESCARO shares were trading on the KOSDAQ market at 38,300 won, up 147.10% (22,800 won) from the offering price (15,500 won). At one point during the session, they surged to as high as 47,000 won, up more than 203%.
FESCARO was founded in 2016, led by experts in automotive electronic systems and former white-hat hackers.
In the public subscription held on the 1st–2nd, the retail tranche recorded a competition rate of 1,430.3 to 1, and about 3.6 trillion won in subscription deposits was gathered.
The book-building for institutional investors posted a competition rate of 1,173.2 to 1, and the offering price was set at 15,500 won, the top end of the indicated range (12,500 won–15,500 won).