[Featured Stock] Metuzen Falls Below IPO Price on First Trading Day
[Asia Economy Reporter Jang Hyowon] Me2zen, a global company specializing in social casino and casual games, is showing weakness on its first day of listing.
As of 9:28 AM on the 18th, Me2zen is trading at 26,600 KRW, down 8.59% from the opening price. This is 1.48% lower than the public offering price of 27,000 KRW. The opening price on the day was set at 29,100 KRW, 7.8% higher than the public offering price.
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Me2zen, a Hong Kong company specializing in developing and servicing mobile games such as 'Solitaire,' was acquired in 2017 by Me2on, a KOSDAQ-listed company. Me2zen achieved rapid growth last year, recording sales of 102.7 billion KRW, operating profit of 46 billion KRW, and net profit of 37.3 billion KRW.
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