On the 9th, as the domestic stock market plunged, shares of AXBIS, which debuted on the KOSDAQ that day, were strong.
As of 9:10 a.m. that day, AXBIS was trading at 46,000 won, up 34,500 won (300.00%) from the offering price (11,500 won). It succeeded in achieving a "double-double" (a fourfold rise from the offering price) right after the opening.
AXBIS recorded a competition rate of 1,124.21 to 1 in a book-building for institutional investors held from the 6th to the 12th of last month. A total of 2,411 domestic and overseas institutions participated, and the offering price was set at the top end of the desired range (10,100–11,500 won), 11,500 won.
In the public subscription for general investors held over two days on the 23rd and 24th of the same month, the competition rate was 2,711.06 to 1. About 896.34 billion won in deposit money for the subscription was collected.
Founded in Nov. 2009, AXBIS engages mainly in intelligent high-power laser solutions and related businesses. It has grown its business focusing on the power infrastructure and industrial equipment markets.
Through this listing, AXBIS plans to use the funds raised to pursue three key growth strategies: ▲ expanding production capacity and strengthening research and development ▲ new businesses centered on laser heating ▲ physical artificial intelligence and semiconductors.