[Special Stock] M&C Solution Drops 16% on First Day of Listing

M&C Solution is experiencing a sharp 16% drop on its first day of listing.

As of 9:25 AM on the 16th, M&C Solution is trading at 54,500 KRW, down 16.00% from the previous trading day. The opening price was set at 58,000 KRW, which is 10.77% lower than the public offering price.

M&C Solution is a special-purpose machinery manufacturer producing key components used in domestic defense products exported such as Cheonmu, Cheongung, K9 self-propelled howitzers, and K2 tanks. It attracted attention as the last KOSPI IPO of the year and being in the defense sector.

It is interpreted that investor sentiment has been significantly dampened due to the consecutive delays in defense export contracts following the martial law situation.