[Featured Stock] Jeonjin Construction Robot Surges 60% on First Day of KOSPI Listing

Jeonjin Construction Robot, listed on the KOSPI market, is rising more than 60% on its first day of trading on the 19th.

As of 9:45 a.m. on the day, Jeonjin Construction Robot is trading at 26,700 KRW, up 61.82% (10,200 KRW) from the previous trading day.

Founded in 1999, Jeonjin Construction Robot is the largest concrete pump car (CPC) manufacturer in South Korea. As of last year, it holds the number one market share domestically and ranks second in the North American market.

Jeonjin Construction Robot, a specialized company in construction concrete pump cars, recorded a demand forecast competition rate of 870.16 to 1 among institutional investors from the 30th of last month to the 5th of this month. The public offering price was set at 16,500 KRW, exceeding the upper limit of the desired range (13,800 KRW to 15,700 KRW). In the subsequent public subscription, it recorded a competition rate of 1,087.3 to 1, gathering approximately 8.28 trillion KRW in subscription deposits.