Model and influencer management corporations ESteem hit a "double double" (four times the offer price) on its first day of trading on the KOSDAQ market on the 6th.
As of 9:11 a.m. that day on the KOSDAQ market, ESteem was trading at 34,000 won, up 25,500 won (300%) from the offer price of 8,500 won.
ESteem is corporations that run brand marketing and content businesses based on intellectual property (IP) for models and influencers, and its roster includes Han Hye-jin, Jang Yoon-ju and Song Kyung-ah.
Earlier, ESteem's offer price was set at the top end of the desired range, 8,500 won. In the subscription for retail investors, it recorded a competition rate of 1,960.87 to 1. In the bookbuilding for domestic and overseas institutional investors, 2,263 institutions at home and abroad participated, resulting in a competition rate of 1,335 to 1. Among all participants, 99.9% submitted prices at or above the top end of the offer price band.
ESteem plans to use the public offering funds secured through this listing to expand incubating investments in promising domestic designer brands, establish the ESteem flagship store, take its proprietary revenue-generating content IP "Catwalk Festa" overseas, and open a New York branch.