On the 30th, the first day Deokyang Energen, the year's first IPO company, debuted on the KOSDAQ market, shares rose in early trading.
As of 9:12 a.m., Deokyang Energen was trading at 25,000 won, up 15,000 won (150.00%) from the offering price (10,000 won). It hit "double" (twice the offering price) right after the open.
Deokyang Energen recorded a competition rate of 650.14 to 1 in the book-building for institutional investors conducted from the 12th to the 16th. A total of 2,324 domestic and overseas institutions participated, and the offering price was set at 10,000 won, the top end of the desired range (8,500 to 10,000 won).
In the public subscription for retail investors held over two days on the 20th and 21st of this month, the competition rate was 1,354.4 to 1. About 12.7 trillion won in deposits for the subscription was collected.
Founded in 2020, Deokyang Energen is a corporations specializing in high-purity industrial hydrogen. It operates a business that spans the entire value chain from hydrogen production linked to petrochemical processes to storage and supply. Centered on byproduct hydrogen and reforming-based hydrogen production methods, it provides customized hydrogen supply solutions and produces high-purity industrial hydrogen with 99.99% (4N) purity by further refining byproduct hydrogen.