'2차전지' Hanatech, Soars on First Day of Listing

[Asia Economy Reporter Koh Hyung-kwang] Hanatech, a company specializing in mass production equipment for secondary batteries, is showing a sharp rise on its first day of listing on the KOSDAQ market.

According to the Korea Exchange on the 25th, as of 11:09 a.m., Hanatech was trading at 87,600 KRW on the KOSDAQ, up 25.1% from the opening price. Immediately after the market opened, it traded at 91,000 KRW, hitting the price limit increase of 30%, but has slightly declined since. The opening price was set at 70,000 KRW, double the public offering price of 35,000 KRW.

Founded in 2000, Hanatech is considered the only company capable of supplying turnkey (design and construction lump-sum bidding) equipment necessary for all processes of secondary batteries. Its clients include the three major domestic battery companies: LG Chem, Samsung SDI, and SK Innovation.

During the demand forecast for institutional investors held on the 9th and 10th, it recorded a competition rate of 1,393.9 to 1. Subsequently, in the public subscription for general investors, it showed a competition rate of 1,802.1 to 1.