[Market Focus] Autocrypt Surges 60% on First Day of KOSDAQ Listing

Autocrypt is showing a strong performance with a gain of over 60% on its first day of listing on KOSDAQ.

As of 9:13 a.m. on July 15, Autocrypt was trading at 35,500 won, up 13,500 won (61.36%) from its offering price of 22,000 won.

Previously, during the institutional investor demand forecast held from June 24 to 30, a total of 2,403 institutions participated, resulting in a final competition ratio of 995.34 to 1. The offering price was set at the upper end of the desired range, 22,000 won. Subsequently, during the public subscription for general investors held on July 3 and 4, the competition ratio reached 1,406 to 1, and the subscription deposit amounted to approximately 5.4147 trillion won.

Autocrypt is the only global future mobility software security company in Korea that has been developing and supplying vehicle security solutions since 2007, boasting the longest track record in the industry. In particular, it is the only global company in Korea chosen by 21 automakers as a key supplier of vehicle cybersecurity solutions, which will be mandatory for approximately 1.6 billion vehicles worldwide.