Daishin Balance No. 20 SPAC is surging on its first day of listing on the 5th.
As of 9:07 a.m. that day, Daishin Balance No. 20 SPAC was at 6,260 won on the KOSDAQ market, up 4,260 won (213.00%) from the offer 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.
Daishin Balance No. 20 SPAC is pursuing a merger targeting corporations operating in industries such as renewable energy; biopharmaceuticals and medical devices; secondary batteries; LED applications; green transportation systems; carbon reduction energy; advanced water treatment; digital content, games, and entertainment; robotics applications; new materials and nanoconvergence; high value-added food industries; auto parts manufacturing; and IT and semiconductors.