KNSI, a company specializing in satellite communication antennas, has seen its stock price nearly double on its first day of trading on the KOSDAQ.
As of 9:16 a.m. on August 13, KNSI's shares were trading at 21,950 won, up 10,950 won (99.55%) from the initial public offering price of 11,000 won. The stock opened at 19,000 won, which is 72.7% higher than the IPO price.
Founded in 2001, KNSI develops and manufactures satellite communication antennas for maritime and military applications, including products for surface ships and submarines. The company is also expanding its business into next-generation electronic phased array (ESA) flat panel antennas.
During the IPO process, institutional investors showed significant interest. From July 27 to 31, 2,024 institutions participated in the demand forecast, resulting in a competition ratio of 938.24 to 1. The final IPO price was set at the upper end of the proposed range, at 11,000 won.
The funds raised will be used to expand research and development personnel for military and ESA flat panel antennas, enhance infrastructure, introduce ESA measurement and RF design software, and secure key raw materials. Meanwhile, the stock price has shown a significant upward trend since the market opened, reflecting strong investor interest in newly listed shares.
* This article has been translated by AI.
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