[Featured Stock] Eskem Plummets on First Day of KOSDAQ Listing

Organic Light Emitting Diode (OLED) material company Eskem is experiencing a sharp decline on its first day listed on the KOSDAQ.

At 10:10 a.m. on the 18th, Eskem was trading at 8,400 won, down 16.00% from the public offering price of 10,000 won.

After listing, Eskem announced plans to discover growth drivers in business areas such as healthcare and secondary batteries, beyond its core business of supplying OLED materials.

In the demand forecast for institutional investors, Eskem set the public offering price at 10,000 won, below the lower end of the desired range of 13,000 won. The competition rate was 299 to 1. In the subsequent general subscription, the competition rate was 75 to 1, raising 183 billion won in deposits.