[Market Focus] Samyang Comtech Doubles on First Day of KOSDAQ Listing

Samyang Comtech is experiencing a sharp surge on its first day of trading on KOSDAQ, with its share price doubling (up 2 times compared to the IPO price).

As of 9:49 a.m. on August 18, Samyang Comtech was trading at 15,000 won, up 7,300 won (94.81%) from its IPO price of 7,700 won. During the session, the price rose as high as 16,370 won.

Samyang Comtech was founded in 1962. The company developed South Korea's first bulletproof vest and supplied bulletproof and protective equipment to the Ministry of National Defense. After joining the Jeo Holdings Group in 2006, Samyang Comtech began developing and mass-producing special armor for the K2 tank in 2009, and in 2015, developed components such as bulletproof panels for cockpits used in light armed helicopters.

The company held its IPO subscription on August 5 and 6. At that time, the competition rate was 927.97 to 1. Subscription deposits reached nearly 12.951 trillion won. In the institutional investor demand forecast, the competition rate was also high at 565.55 to 1.