[Asia Economy Reporter Hyungsoo Park] A-pro, a manufacturer of equipment for secondary batteries, succeeded in achieving a "ttasang" (opening price doubling the IPO price and hitting the upper limit) on its first day of listing, drawing renewed attention to secondary battery-related stocks.
As of 9:32 a.m. on the 16th, A-pro's stock price recorded 56,100 won, up 29.86% from the opening price. The opening price was set at 43,200 won, which is 100% higher than the IPO price of 21,600 won.
A-pro recorded a competition rate of 1,090.8 to 1 during the two-day demand forecast from the 2nd to the 3rd. The IPO price was finalized at the upper end of the expected band, 21,600 won, within the range of 19,000 to 21,600 won.
A-pro produces equipment used in the activation process of secondary battery production based on technology in power conversion and circuit fields. The product lineup mainly consists of chargers/dischargers (Formation) and testing equipment. The chargers/dischargers include general chargers/dischargers and high-temperature high-pressure chargers/dischargers, while the testing equipment includes IROCV and Cycler.
A-pro was the first in Korea to develop and apply to mass production lines a high-temperature high-pressure charger/discharger that can integrate and perform not only charging/discharging processes but also high-temperature and pressure processes. This shortens battery manufacturing time, improves battery efficiency and quality, and reduces production costs.
Along with A-pro's surge, news that Samsung Electronics Vice Chairman Lee Jae-yong visited Hyundai Motor Namyang Technology Research Center to meet again with Hyundai Motor Group Senior Vice Chairman Chung Eui-sun is also positively influencing investment sentiment in secondary battery-related stocks. The two are expected to discuss additional collaboration plans related to solid-state batteries, which was the core topic of their first meeting on May 1.
Expectations are also growing for a second meeting between Senior Vice Chairman Chung and the heads of SK and LG groups. At a Blue House event the day before, Senior Vice Chairman Chung said, "I recently visited Samsung, LG, and SK in turn to discuss new battery technologies," emphasizing, "We will cooperate well to lead the global market competition."
As the electric vehicle battery market is expected to become a "supplier's market," Hyundai Motor Group can gain a competitive edge in the future car market by collaborating with Samsung SDI, LG Chem, SK Innovation, and others.
Secondary battery-related stocks such as Dongwha Enterprise and Ninetech are also showing strong performance together.
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