[Featured Stock] 'Ttasant' Seamechanics Drops 15% Sharply

[Asia Economy Reporter Hwang Junho] Seamechanics is showing a decline of over 15% compared to the opening price on its first day listed on KOSDAQ. However, since the opening price was set at twice the public offering price, the profits for public offering investors remain intact.

According to the Korea Exchange on the 24th, as of 10:33 a.m., Seamechanics' stock price is trading at 7,480 KRW, down 15% from the opening price. The opening price was set at 8,800 KRW, which is 200% of the public offering price (4,400 KRW), and the stock price, which surged to 11,400 KRW in the early session, quickly plummeted.

Seamechanics is a public offering stock that succeeded in attracting strong interest by recording four-digit competition rates in both demand forecasting and public subscription. In demand forecasting, it recorded a competition rate of 1,812.83 to 1, confirming the public offering price at 4,400 KRW, higher than the expected range of 3,500 to 4,000 KRW. In the public subscription for general investors, it recorded a competition rate of 2,475.87 to 1. The subscription deposit was approximately 9.1082 trillion KRW.

The company develops and manufactures automotive and electronic parts based on proprietary aluminum die-casting technology. The main products include secondary battery parts, electric vehicle and electric two-wheeler parts, hydrogen vehicle parts, internal combustion engine parts (all automotive parts), and display devices (electronic parts).

This content was produced with the assistance of AI translation services.