[Featured Stock] Black Yak I&C Surges Around 20% on First Day of SPAC Listing

Black Yak I&C is showing a nearly 20% surge in the early trading session on the 21st, its first day of listing on the KOSDAQ market through a merger with a Special Purpose Acquisition Company (SPAC).

As of 10:13 AM, Black Yak I&C, a safety equipment manufacturer, is trading at 6,170 KRW per share, up 18.58% from the reference price of 5,220 KRW. The opening price was 6,080 KRW. Earlier, it hit the upper limit price of 6,780 KRW, marking a 29.89% increase.

Founded in 2013, Black Yak I&C produces safety shoes, safety clothing, and other safety equipment. As of 2023, the company recorded sales of 35.2 billion KRW and an operating profit of 8.1 billion KRW. It was listed on the KOSDAQ market through a merger with Mirae Asset Vision SPAC 1 on the same day.