[Special Stock] 'Rockfish' Operator AYU Brands Soars 50% on First Day of Listing

AU Brands, which operates the fashion brand Rockfish Weatherwear, is soaring more than 50% on its first day of listing on the KOSDAQ.

As of 10:48 a.m. on the 3rd, AU Brands' stock is trading at 24,450 KRW, up 52.81% from the public offering price of 16,000 KRW. After starting at an opening price of 27,450 KRW, the stock has been fluctuating.

AU Brands conducted a demand forecast targeting domestic and international institutional investors from the 13th to the 19th of last month, recording a competition rate of 816 to 1 with participation from a total of 2,085 institutions. The final public offering price was set at the upper end of the band (14,000 to 16,000 KRW) at 16,000 KRW. Subsequently, during the two-day public subscription for general investors on the 25th and 26th, a competition rate of 969.32 to 1 was recorded. Subscription deposits amounted to approximately 3.8773 trillion KRW.

AU Brands plans to focus on expanding its global market, including entering Japan and China, using the funds secured through this listing.