[Featured Stock] The Dozen Soars Over 10% on First Day of KOSDAQ Listing

Financial services company Thezn is rising nearly 20% in the early trading session on its first day listed on the KOSDAQ.

As of 9:17 a.m. on the 24th, Thezn's stock price is trading at 10,630 won, up 18.11% from the public offering price of 9,000 won. Trading began at the opening price of 10,500 won.

Thezn set its public offering price at 9,000 won, lower than the expected range of 10,500 to 12,500 won, during the demand forecast conducted for domestic and foreign institutional investors from the 28th of last month to the 7th of this month. The total public offering amount is 22.5 billion won.

During the general subscription held on the 12th and 13th, the total number of subscription applications reached 65,551, recording a competition rate of 222 to 1. Subscription deposits amounted to 624.4 billion won.

Thezn specializes in enterprise financial value-added network (VAN) business and gained attention in 2019 by being the first in the industry to develop 'redundancy' technology that allows transactions to be processed through two financial VAN companies. After listing, Thezn plans to strengthen new services beyond financial VAN, such as 'cross-border settlement (foreign currency settlement)' and 'loan comparison,' and to expand into the Southeast Asian market.