[Featured Stock] Duol Mulsan, 400% Surge on First Day of K-OTC Registration... 8.6 Million Shares Traded

[Asia Economy Reporter Jang Hyowon] Duol Mulsan, a manufacturer of automotive interior and exterior materials, is hitting the upper price limit on its first day of registration in the K-OTC market. K-OTC is an over-the-counter stock market operated by the Korea Financial Investment Association.

As of 9:23 a.m. on the 13th, Duol Mulsan is trading at 535 KRW, a 400% increase compared to its net asset value per share of 107 KRW. The price limit in the K-OTC market is ±30% from the reference price, but on the first trading day, trading can occur between 30% and 500% of the reference price.

Established in 1995, Duol Mulsan is a small and medium-sized enterprise engaged in the development and manufacturing of automotive interior and exterior materials such as car carpets, trunk trims, wheel guards, and undercovers. Hyundai and Kia Motors are its major clients. As of the end of June, the company recorded total assets of 13.9 billion KRW, total liabilities of 3.3 billion KRW, total equity of 10.6 billion KRW, and sales of 10.5 billion KRW.

A representative of Duol Mulsan stated, "As a first-tier supplier to domestic automobile manufacturers, we will continuously secure our competitiveness through the development of eco-friendly new materials and electric vehicle-specific interior materials." He added, "We expect to increase the company's fair value further by entering the K-OTC market."