[Featured Stock] Padu Experiences Rollercoaster on First Day of Listing... Falls Below IPO Price

The stock price of Pado, a fabless (semiconductor design specialized) startup considered a major IPO this year, is experiencing sharp fluctuations on its first day of listing.

As of 9:56 a.m. on the 7th, Pado is trading at 27,950 KRW, down 9.52% from the previous day. On this day, Pado opened at 26,300 KRW, about 15% lower than the public offering price of 31,000 KRW, and during the session, it even dropped to 25,000 KRW.

Founded in 2015, Pado is a semiconductor design company specializing in data centers, with a focus on high-performance, low-power enterprise data storage device (SSD) controllers. SSD controllers refer to system semiconductors that control SSD modules.

During the public offering process, Pado showed weak competition rates in both institutional demand forecasting and subscription by general investors. In the demand forecast conducted last month, it recorded a ratio of 362.9 to 1, and in the general public subscription, a disappointing competition rate of 79.15 to 1.

Additionally, when determining the public offering price, Pado selected three U.S. Nasdaq-listed fabless companies?Broadcom, Microchip Technology, and MaxLinear?as comparable companies, which sparked controversy over overvaluation. On the day of listing, the available float was also as high as 40%, raising concerns about overhang (potential sell-off volume).

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