[Featured Stock] Icecream Media Falls Nearly 9% on First Day of KOSDAQ Listing

Icecream Media started its first day on the KOSDAQ with a downward trend.

At 9:08 a.m. on the 30th, Hyundai Icecream Media was trading at 29,000 won, down 3,000 won (9.38%) from the public offering price of 32,000 won.

Icecream Media is a digital education platform company established in 2002 after separating from Sigong Tech. Last year, its sales grew 18.16% year-on-year to 123.1 billion won, and operating profit increased 11.35% to 34 billion won.

During the demand forecast conducted for institutional investors from the 9th to the 16th, Icecream Media recorded a final competition rate of 31.3 to 1, and the final public offering price was set at the lower end of the desired band, 32,000 won, which ranged from 32,000 to 40,200 won. The general subscription held on the 21st and 22nd also saw a competition rate of only 12.89 to 1.