Shinhan No. 18 SPAC is surging on its first day of listing on the KOSDAQ market on the 30th.
As of 9:09 a.m. that day, Shinhan No. 18 SPAC was trading on the KOSDAQ market at 6,700 won, up 235% (4,700 won) from its offering price (2,000 won).
SPAC (special purpose acquisition company) stocks are merger-only listed companies established to help unlisted companies go public. They must merge with an unlisted company within three years, and if they fail to find a merger target, they are automatically delisted.
Shinhan No. 18 SPAC is pursuing a merger targeting corporations engaged in industries such as electronics and telecommunications, software and services, biopharmaceuticals and medical devices, secondary batteries, gaming and entertainment, the mobile industry, renewable energy, auto parts, and new materials and nano convergence.