[Featured Stock] Obzen Achieves 'Double Upper Limit' Upon KOSDAQ Listing

[Asia Economy Reporter Son Sunhee] Marketing solution company Objzen succeeded in a so-called 'ttasang' (forming the opening price at twice the public offering price and then hitting the upper limit) immediately after being listed on the KOSDAQ market.

On the morning of the 30th, Objzen was trading at 46,800 KRW, up to the price limit (30%) right after the opening on the Korea Exchange KOSDAQ market.

On the morning of the 30th, officials are taking a commemorative photo at the 'Obzen' KOSDAQ market listing ceremony held at the Korea Exchange Seoul Office PR Center. (From left) Kang Wang-rak, Vice Chairman of the KOSDAQ Association; Hong Soon-wook, Head of the KOSDAQ Market Division at Korea Exchange; Lee Hyung-in, CEO of Obzen; Bae Young-gyu, Executive Director of Korea Investment & Securities; Ra Seong-chae, Vice Chairman of the Korea IR Association. Photo by Korea Exchange

Objzen's public offering price was 18,000 KRW. In the demand forecast conducted prior to the listing, the subscription competition rate among institutional investors recorded 98.49 to 1, but the subscription competition rate among general investors was only 5.97 to 1. This was a somewhat sluggish general subscription result due to the recent contraction of investment sentiment in the initial public offering (IPO) market.

However, it is interpreted that the company is gaining market attention as an AI-themed stock thanks to its business content that combines artificial intelligence (AI) with the development of marketing solutions for enterprises.