[Market Focus] NowRobotics Soars Over 150% on KOSDAQ Debut, Achieves 'Ttasang'

NowRobotics surged nearly 160% in early trading on its first day listed on KOSDAQ, achieving the so-called 'Ttasang'?an opening price double the IPO price followed by hitting the upper price limit.

As of 9:12 a.m. on May 8, NowRobotics shares were trading at 17,370 won, up 155.44% from the IPO price of 6,800 won. NowRobotics began trading at 17,000 won and at one point rose as high as 18,700 won during the session.

NowRobotics set its IPO price at the top end of the desired band, 6,800 won, after conducting a demand forecast for institutional investors from April 14 to 18. A total of 2,479 institutions participated, resulting in a competition rate of 1,394.96 to 1. During the general subscription held over two days from April 24 to 25, the competition rate reached 1,572.19 to 1.

Founded in 2016, NowRobotics is a robotics specialist company. It has rapidly grown by establishing a turnkey supply system based on integrated software and hardware solutions. Its main products include the NURO series of Cartesian robots, the NURO-X series of articulated robots, the NUCA series of SCARA robots, and the NUGO series of autonomous logistics robots.