[Featured Stock] Erkos, 'SPAC Listing' Rises Over 20% on First Day

Food manufacturing company Erkos is soaring over 20% on its first day of KOSDAQ listing through a merger with a Special Purpose Acquisition Company (SPAC).

As of 9:15 a.m. today, Erkos shares are trading at 13,210 KRW, up 23.92% from the reference price of 10,660 KRW.

Founded in 2014, Erkos produces infant and toddler food, senior-friendly food, and plant-based alternative foods. It is well known for its own infant food brand, 'Rusol.' As of 2023, the company recorded sales of 33 billion KRW and operating profit of 3.1 billion KRW, with sales and operating profit in the first half of last year at 17.9 billion KRW and 2.2 billion KRW, respectively.

The Korea Exchange approved Erkos's KOSDAQ listing through a merger with Kiwoom No.6 SPAC on the 26th, and trading began today.