Innospace Experiences Unusual 20% Drop on First Day of KOSDAQ Listing

Space launch startup Innospace showed an unusual decline on the first day of its KOSDAQ listing on the 2nd.

On that day, Innospace closed at 34,450 won, down 8,850 won (20.44%) from the public offering price of 43,300 won. This is somewhat unusual compared to most IPO stocks this year, which surged on their first day of listing.

As a result of the public offering subscription for general investors held from the 20th to the 21st of last month, a competition rate of 1,150.72 to 1 was recorded. In the demand forecast conducted from the 11th to the 17th of the same month, 2,159 domestic and foreign institutions participated, recording a competition rate of 598.87 to 1. The subscription deposit amounted to approximately 8.2836 trillion won.

Innospace plans to use the funds secured after listing to expand facilities for internalizing launch vehicle production, strengthen research and development for launch vehicle weight reduction and reusability, secure overseas market channels, and attract talented personnel.