Woojinentec recorded a 'double-double' (4 times the IPO price) on its first day listed on KOSDAQ. Woojinentec is the first company to go public (IPO) this year.
As of 9:26 a.m. on the 24th, Woojinentec is trading at 21,200 KRW, a 300% increase compared to the IPO price of 5,300 KRW. Woojinentec went straight to the upper price limit after the market opened. The price limit applied to Woojinentec on this day ranges from 3,180 KRW to 21,200 KRW.
Woojinentec recorded a high competition rate of 1,263.32 to 1 in the demand forecast for institutional investors. The IPO price of 5,300 KRW exceeded the upper limit of the existing price band (4,300 to 4,900 KRW).
Woojinentec focuses on maintenance services essential for nuclear power plant operations and provides instrumentation and control equipment maintenance services and commissioning work at 10 nuclear and thermal power plants nationwide. In 2022, it recorded sales of 37.4 billion KRW and an operating profit of 5.7 billion KRW (operating profit margin of 15.2%). As of the third quarter of last year, it holds an order backlog of over 47.8 billion KRW. With the recovery of the nuclear power ecosystem, the company aims to steadily increase sales and profit margins by expanding orders.
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