Chaevi, a domestic electric vehicle fast-charging infrastructure operator (CPO), is up more than 70% on its first day of listing on the 29th.
As of 9:13 a.m., Chaevi was trading on the KOSDAQ market at 21,550 won, up 9,250 won (75.2%) from the previous session.
Earlier, in the institutional book-building conducted on the 20th-21st, a total of 751 institutions participated, recording a competition rate of 55 to 1. In particular, the allocation ratio to overseas institutions was 35%, exceeding the usual range for IPO allocations (10-25%).
In the public subscription for retail investors, deposit margins totaled 4.18 trillion won, confirming the market's interest.
Choi Young-hoon, CEO of Chaevi, said, "We plan to focus on upgrading charging infrastructure and expanding our global network based on the funds secured through this listing," adding, "Even after listing, we will strive to become a trusted company through transparent management and investor protection policies."