[Stock in Focus] Oa Falls Over 17% on First Day After SPAC Merger Listing

Oa is experiencing a decline of over 17% on its first day of trading on the KOSDAQ market.

As of 9:49 a.m. on September 9, Oa was trading at 15,080 won on the Korea Exchange, down 3,150 won (17.28%) from the reference price of 18,230 won.

Oa made its debut on the KOSDAQ through a merger with Mirae Asset Vision SPAC No.2, a special purpose acquisition company (SPAC).

Oa produces a variety of products, including small and mid-sized home appliances and health functional foods, through an original equipment manufacturing (OEM) model in China. Last year, the company recorded 96.9 billion won in sales, 9.5 billion won in operating profit, and 6.9 billion won in net profit.