Semiconductor sensor design corporations Haechitech(0155E0) are weak on their first day of KOSDAQ listing, trading well below the offer price.
As of 9:50 a.m. on the 25th, Haechitech was trading at 17,820 won, down 5,180 won (22.52%) from the offer price of 23,000 won.
Founded in 2017, Haechitech is a fabless corporations that designs and develops sensor integrated circuits (ICs). It has product lines of geomagnetic, digital, and analog magnetic sensors, as well as environmental sensors such as temperature and temperature-humidity. Its hallmark is supplying sensors tailored to client products by adjusting voltage, sensitivity, measurement range, and interfaces.
In this initial public offering (IPO), Haechitech offered a total of 1 million shares. In the book-building for institutional investors held on the 3rd–7th, 321 institutions participated, recording a competition rate of 101.91 to 1. The offer price was set at 23,000 won, the bottom of the desired range of 23,000–28,000 won.
In the public subscription for retail investors on the 12th–13th, about 6.43 million shares were bid for 250,000 shares on offer, resulting in a competition rate of 25.73 to 1. The subscription deposit came to about 73.9 billion won.
The company plans to use 23 billion won secured through the IPO for research and development (R&D). It plans to expand applications from the existing mobile, home appliances, industrial, and automotive electronics fields to robots, data centers, mobility, and healthcare.