[Special Stock] 'Saenaegi' Susan Industry Falls Below IPO Price on First Day of Listing

[Asia Economy Reporter Lee Seon-ae] Susan Industry, the second company to be listed on the KOSPI market this year after LG Energy Solution, lost face by recording a weak performance, trading below the public offering price on its first day of listing.

At 9:29 a.m. on the 1st, Susan Industry was trading at 31,400 won, 4.70% lower than the opening price of 33,000 won. The opening price was set at 33,000 won, 5.71% lower than the public offering price of 35,000 won.

Established in 1983, Susan Industry operates a comprehensive maintenance business for power plants, enhancing the operating rate of facilities and preventing unexpected shutdowns in various power plants including nuclear, thermal, and renewable energy. Currently, it provides services such as routine maintenance, planned preventive maintenance, and equipment operation through 24 power maintenance offices nationwide.

In the prior demand forecast, a total of 339 institutions participated, resulting in a competition rate of 130.37 to 1. Accordingly, the public offering price was set at the lowest end of the desired range (35,000 won to 43,100 won), at 35,000 won. The integrated competition rate in the general subscription was approximately 3.4 to 1.

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