[Featured Stock] Gridwiz Soars 90% on First Day of KOSDAQ Listing
Gridwiz is recording a rise of over 90% on its first day of listing on KOSDAQ.
As of 9:53 AM on the 14th, Gridwiz was trading at 75,500 KRW, up 35,500 KRW (88.75%) from the public offering price.
Founded in 2013, Gridwiz operates a business centered on energy data technology. It is expanding its business in various energy technology fields including △Demand Response (DR) △E-Mobility (EM) △Energy Storage System (ESS) △Photovoltaic (PV) sectors.
Currently, Gridwiz is the number one DR operator in Korea, securing a high market share of 47% based on last year's settlement amount. The company has built a diverse customer portfolio across various industries and sectors, and based on this, it possesses superior control capabilities compared to competitors, achieving a 99% customer retention rate and generating stable cash flow.
From the 23rd of last month, a five-day demand forecast targeting domestic and international institutional investors saw participation from 1,098 institutions, recording a competition rate of 124.6 to 1, confirming the top end of the public offering price range at 40,000 KRW.
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As a result of the public offering subscription for general investors, a competition rate of 569.9 to 1 was recorded. For the 3.5 million shares allocated to general investors, 1,994,623,023 subscription applications were received. The subscription deposit was estimated at approximately 4 trillion KRW.
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