[Special Stock] Wuyang H.C. Rises 10% on First Day of SPAC Merger Listing

Wuyang HC is recording a rise of over 10% on the first day of its SPAC merger listing.

As of 10:34 AM on the 28th, Wuyang HC was trading at 20,800 KRW, up 2,160 KRW (11.59%) from the reference price of 18,640 KRW.

On this day, Wuyang HC was listed on the KOSDAQ market through a merger with KB No.26 SPAC. Wuyang HC is a specialized company capable of design to manufacturing in the fields of petrochemicals, refining, LNG (liquefied natural gas), and eco-friendly plant facilities. It possesses core technological capabilities in the chemical plant industry. The company operates a business model based on Engineer-to-Order (ETO), performing everything from design to manufacturing, installation, and commissioning according to customer requirements.

Wuyang HC is actively engaging in the development of carbon capture, utilization, and storage (CCUS), energy-saving equipment, and wastewater treatment systems in line with the global carbon neutrality trend and energy transition movement. In 2024, it was registered as a qualified supplier for Korea Hydro & Nuclear Power, laying the foundation for entry into the nuclear plant and small modular reactor (SMR) markets. The company is aiming to expand into sustainable future industries.

Wuyang HC recorded sales of 183.249 billion KRW, operating profit of 31.08 billion KRW, and net profit of 27.432 billion KRW last year.